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Polygon reaches level that last time triggered a 275% MATIC price rally — Will history repeat? -Breaking

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Polygon reaches level that last time triggered a 275% MATIC price rally — Will history repeat?

PolygonMATICAfter testing $0.794 interim support on May 10, the ) price turned to the upside, and climbed by as much as 25% to $0.99

After the token dropped over 17%, it reached $0.787 on July 20,21. This was in spite of a rebound. Global market crashThe hawkish U.S. Federal Reserve policies are the main reason.

Price chart for the week. Source: TradingView
Total value of the Polygon liquidity pool. Source: Defi Llama
Chart of weekly prices for MATIC/USD Source: TradingView