Arbitrum (ARB) is currently trading at $0.189463, reflecting a 24-hour decline of 1.13%. The daily range has been relatively narrow, with a high of $0.193671 and a low of $0.189072, indicating a lack of volatility in the short term.

The trading volume stands at approximately $65 million, translating to a volume-to-market cap ratio of 6%. This figure suggests moderate trading activity, but the downward price movement could indicate selling pressure or reduced demand among investors.

Technical indicators show that the 1-hour RSI is at 34, signaling potential oversold conditions, while the 7-day RSI at 45 suggests a neutral trend. The short-term moving averages (8 SMA at $0.1900 and 13 SMA at $0.1905) are slightly below the current price, which may indicate bearish sentiment, especially with the 55 SMA showing a positive trend at $0.1866.

Over the past week, ARB has seen a price decrease of nearly 12%, with both the 14-day and 30-day price changes also in negative territory, at -8.50% and -11.90%, respectively. This sustained decline in price indicates a persistent bearish trend, as the asset struggles to maintain upward momentum.

Historically, ARB reached an all-time high of $2.39 in January 2024, indicating significant potential upside from current levels. However, the substantial drop from this peak suggests that ARB is currently undervalued, but market sentiment needs to shift for a recovery.

Given the current technical indicators and market conditions, the recommendation for ARB is to Hold. The asset shows potential for recovery due to oversold conditions, but persistent bearish trends and lack of buying momentum warrant caution before considering a Buy.