Ethereum Briefly Dips But Remains Above $4,600 Despite Inflation Concerns

Despite a brief dip of 2.5%, Ethereum (ETH) held above $4,600 on Friday as traders reacted to the latest U.S. inflation figures. While the market experienced a pullback following the release of higher-than-anticipated Producer Price Index (PPI), the resilience of ETH suggests optimistic sentiment remains. Technical analysis indicates support at $4,500 and resistance around $4,640, with potential for further upside to $5,000 before the end of August.