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#July PPI Beats Expectations#
The price of ARB has fallen by 9% in the last 24 hours. The altcoin remains above the support level of $0.510 after a failed attempt to hold above $0.550. This failure has led to a temporary decrease in price, highlighting the need for stronger support.
The weekend is scheduled for the unlocking of tokens, resulting in 92.65 million ARB worth over $48.22 million entering circulation. The increase in supply may put pressure on the price. However, the Parabolic SAR indicator still points to an upward trend, which may offset the negative effects of the unlocking.
If ARB holds above $0.510, the price could rise to $0.550. If $0.550 becomes support, further increases to $0.600 are possible. Otherwise, losing support at $0.510 could lead to a drop to $0.473 or lower. This would invalidate the bullish outlook for ARB.