Arbitrum (ARB) is currently priced at $0.108775, reflecting a significant decline of 16.44% over the last 24 hours. The daily trading range has been tight, with a high of $0.130179 and a low of $0.107467, indicating increased volatility in the short term.

The trading volume stands at approximately 254.93 million, contributing to a market cap volume ratio of 40.22%. This high volume percentage, coupled with the negative price action, suggests that selling pressure is dominating the market, which is confirmed by the low RSI readings of 15 (1 hour) and 35 (7 days).

The moving averages indicate a bearish trend, with all significant averages (8, 13, 21, 55, and 144 SMA) showing declines ranging from -9.53% to -20.27%. The price is trading well below these averages, indicating a lack of upward momentum and potential continuation of the downtrend.

Over the past week, ARB has seen a price decline of 31.19%, and over the last 30 days, it has dropped 51.07%. This sharp decline in price, combined with the downward trend in moving averages, suggests that investor sentiment is notably bearish.

Given the technical indicators and substantial losses over multiple time frames, the market sentiment is currently pessimistic. Additionally, the RSI suggests that the asset is significantly oversold, which may lead to potential short-term rebounds, but overall bearish momentum persists.

Considering the current market conditions and technical analysis, I assign a Sell rating for Arbitrum (ARB). The continued downtrend and lack of bullish signals suggest that holding or buying at this juncture could incur further losses.