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


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

Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99.

The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve’s hawkish policies.

weekly price chart. Source: TradingView
The total value locked inside Polygon liquidity pools. Source: Defi Llama
MATIC/USD weekly price chart. Source: TradingView