According to ChainCatcher, trader Eugene Ng Ah Sio stated on his personal channel, "Today, based on the overall defensiveness of altcoins against BTC, I have opened some long positions. These are short-term trades on a low time frame (LTF), not holdings on a high time frame (HTF), but ETH appears resilient enough to hold the $3,500 level. I currently hold long positions in ETH and SUI. If ETH falls below the $3,500 low, the trade will be invalidated."