Arbitrum (ARB) is currently trading at $0.193732, reflecting a 24-hour change of -2.44%. The daily price range has been relatively narrow, with a high of $0.198587 and a low of $0.186907, indicating limited volatility in the short term.

Volume stands at 146,163,695, which represents 13.43% of the market cap, suggesting a moderate trading activity that may be insufficient to drive significant price movements. The hourly moving averages reflect a mixed sentiment; while the 8 SMA and 13 SMA indicate slight upward momentum, the 55 SMA and 144 SMA show declining trends, highlighting potential resistance levels.

The RSI metrics are bearish, with the 1-hour RSI at 45 and the 7-day RSI at 44, indicating weak momentum and potential oversold conditions. Over the past week, ARB has seen a significant decline of 10.84%, and a more pronounced drop of 36.52% over the last 30 days, suggesting a broader bearish trend.

The all-time high of $2.39, achieved in January 2024, remains far from the current price, indicating that ARB has lost considerable value since then. The ongoing downtrend, coupled with the RSI readings, suggests that the current price action may be consolidating before a potential further decline.

In conclusion, given the current price action, declining moving averages, and negative momentum indicators, the recommendation is to Hold ARB. Investors should monitor for signs of stabilization or a reversal in trend, as the market shows potential for further downside risk before any recovery can be confirmed.