Arbitrum (ARB) is currently trading at $0.222765, reflecting a 1.57% decrease over the past 24 hours. The daily range has been relatively tight, oscillating between a high of $0.239817 and a low of $0.211956, indicating a lack of strong bullish momentum.

Volume for ARB stands at 222,704,193, equating to a volume-to-market cap ratio of 17.84%, which suggests moderate trading activity relative to its market capitalization. The series of hourly moving averages are all showing negative trends, with the 8 SMA at $0.2328 down 4.32%, indicating bearish short-term pressure.

The 1-hour RSI is currently at 36, indicating that ARB is nearing oversold conditions, but is still within a range that suggests potential for further downside. In the longer term, the 7-day RSI is at 46, showing that the asset is still in a bearish phase, while the 14-day and 30-day price changes reflect declines of 15.81% and 30.78% respectively, confirming ongoing selling pressure.

Despite the decline, the all-time high of $2.39 reached in January 2024 sets a significant benchmark, highlighting potential upside if market conditions improve. However, the current price is far below this level, suggesting substantial recovery is needed for bullish sentiment to return.

Given the recent price action, bearish moving averages, and RSI readings, the outlook remains negative in the short to medium term. Therefore, the recommendation is to Sell ARB at this time, as current indicators do not suggest an immediate reversal in trend.