Metahero (HERO), the BSC-based native token of the Metahero ecosystem, starts July positively after experiencing a 25% decline in June due to market retracement.

In contrast to July, HERO began June under bearish pressure, with three consecutive days of turbulence early in the month, continuing the downtrend from May. This was mainly due to the overall bearish market conditions, which saw Bitcoin (BTC) lose most of its March gains.

Launched in 2021, the HERO token is integral to the Metahero ecosystem, offering holders special access and benefits. As a utility token, HERO facilitates transactions on the ecosystem’s NFT marketplace and royalty payments. It features a deflationary model, reducing its supply over time to enhance scarcity.

On June 21, Metahero announced the launch of its phone application, allowing users to create and customize avatars and manage their HERO holdings.

Exciting news! With the launch of our much-anticipated Metahero app approaching, we want to feature YOU, the real heroes, in our pre-launch campaign! 🦸

The token’s downtrend persisted throughout June, culminating in a 25.21% decline. This marked HERO’s third consecutive losing month, following a 19.92% drop in May and a 26.92% decline in April. These losses have resulted in a 34% slump year-to-date, despite gains seen in February and March.

Now, with the broader market preparing for a rebound in July, HERO is already showing strength. Notably, the asset’s Relative Strength Index (RSI) has recovered after falling to the oversold zone at 27.78 on June 28.

HERO’s bullish momentum began on June 29 following the RSI drop. The token has now recorded two consecutive intraday gains and aims for another daily increase today. Historically, July has been a generally bullish month for HERO despite declines in the last two instances.

According to market data, HERO has an average gain of 21.2% in July over the past three years. This makes July the asset’s fourth most bullish month, behind September (60%), October (34.5%), and November (25.6%).

As of July 1, HERO is trading at $0.002434, up 2.66% over the past three days. However, the asset is still down 65% from its yearly peak of $0.007036 during the market uptrend in March. Metahero has seen a 10% increase in volume over the last 24 hours, reaching $679,000.

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