Arbitrum (ARB) is currently trading at $0.093873, reflecting a 24-hour change of -5.86%. The price is nearing its daily low of $0.093757, indicating a lack of upward momentum, while the daily high reached $0.099722, suggesting resistance around the $0.10 mark.

The trading volume over the past 24 hours stands at approximately 49.38 million ARB, with a volume-to-market cap ratio of 9.02%. This relatively low volume coupled with the price decline indicates weak buying interest, which could exacerbate downward pressure in the short term.

Technical indicators show that the 1-hour RSI is at 32, signaling oversold conditions, while the 7-day RSI of 38 suggests a bearish sentiment persists. Moving averages reveal a clear downtrend, with the 8 SMA at $0.0947, and the 144 SMA significantly higher at $0.1040, indicating a broader trend of declining prices over time.

Price performance over the last week shows a decline of approximately 17.36%, while the 14-day and 30-day price changes are -19.31% and -47.90%, respectively. These figures indicate substantial selling pressure and a lack of bullish momentum, further supporting a bearish outlook.

The all-time high of $2.39 reached on January 12, 2024, remains far from the current price, reflecting a significant market correction and loss of investor confidence. Given the ongoing bearish trend, low RSI readings, and historical price performance, the outlook for ARB appears negative.

In conclusion, the data indicates a continued downtrend for Arbitrum (ARB). Therefore, I recommend a Sell rating, as the technical and fundamental factors suggest further declines are likely in the near term.