Ethereum Faces Steep Correction Below $3,300, Traders Expect Further Downside Ahead of Bitcoin Halving

Ethereum (ETH) is down 6% and facing a significant correction, trading around $3,250. Trader doesn't see a reversal coming anytime soon.

Another trader notes this is the first time in 6 weeks ETH has convincingly lost a key RSI level, signaling a loss of momentum.

The second trader advises patience and slowly building positions on way down.

Correction coincides with broader crypto market downturn, less than 3 weeks ahead of Bitcoin halving event.

Appeal of Ethereum as institutional asset class expected to be explored at upcoming Benzinga crypto event on November 19.