Arbitrum (ARB) is currently trading at $0.135531, reflecting a 24-hour decline of 2.13%. The asset's recent price action indicates a daily range between $0.13408 and $0.140095, suggesting limited volatility, with a volume of approximately 104.41 million, representing 13.20% of its market cap.

Technical indicators show that the hourly moving averages are bearish, with the 8 SMA at $0.1361 and the 13 SMA at $0.1362, both down around 0.41% and 0.49%, respectively. The 21 SMA and 55 SMA also display negative trends, with declines of 0.98% and 0.92%, indicating short-term selling pressure.

Momentum indicators such as the 1-hour RSI at 40 suggest that the asset is approaching oversold conditions, but is not yet there. The 7-day RSI at 38 further reinforces this sentiment, indicating ongoing bearish momentum, especially with a significant 7-day price drop of nearly 19%.

The longer-term perspective reveals even more concerning trends, with a 14-day price change of -28% and a substantial 30-day decrease of over 36%. Such drastic price action highlights the potential for continued downside if current conditions persist.

In terms of historical performance, ARB reached its all-time high of $2.39 on January 12, 2024, showcasing the stark contrast to its current valuation. This significant drop illustrates the volatility and risk associated with the asset, leaving investors cautious about potential rebounds.

Given the combination of bearish technical indicators, declining momentum, and significant recent price losses, the recommendation is to Hold. While oversold conditions could provide a potential for short-term recovery, the broader downtrend suggests that a more favorable entry point may emerge before considering a Buy.