3 potential bullish catalysts for Ethereum price in June

As of June 1, Ether (ETH) has dipped by more than 40% after establishing a record high of $4,384 in May.

The major move downhill in the world's second-largest cryptocurrency by market cap has prompted many analysts to predict additional declines. For instance, Clem Chambers, chief executive of financial analytics portal ADFVN.com, sees the recent plunge as reminiscent of the beginning of 2018's crypto crash that preceded a 24,000%-plus bull run.

Comparing (black) and (blue) bull runs in 2017-2018 and 2020-2021. Source: ADFVN
Ether 365-day Market Value to Realized Value (MVRV). Source: Santiment
ETH balance on exchanges show inverse correlation with ETH prices. Source: Glassnode
Ethereum setup for June, as per PostyXBT. Source: ETHUSDT on TradingView.com
Ethereum trade setup, as per the Crypto Cactus (NYSE:). Source: TradingView