Arbitrum (ARB) is currently trading at $0.166935, reflecting a 24-hour decline of 2.55%. The daily range has been narrow, between a high of $0.172439 and a low of $0.166968, indicating low volatility in the market.

The trading volume stands at approximately 67,580,579, representing 6.95% of the market cap. The short-term moving averages suggest a bearish trend, with the 8 SMA at $0.1688 showing a decline of 1.09%, while the longer 144 SMA at $0.1759 indicates a more significant drop of 5.10%.

The 1-hour RSI is at 26, indicating oversold conditions, while the 7-day RSI at 44 shows a lack of momentum for a potential recovery. Moreover, the 7-day, 14-day, and 30-day price changes are all negative, suggesting ongoing bearish sentiment and a lack of upward pressure.

Given the substantial gap from the all-time high of $2.39, reached on January 12, 2024, it is essential to evaluate the long-term fundamentals of Arbitrum. Currently, technical indicators point toward continued downward pressure, with no immediate catalysts for a bullish reversal.

Considering the current price action, bearish indicators, and oversold conditions, a cautious approach is warranted. Therefore, the recommendation is to Hold ARB, as it may present buying opportunities if it stabilizes or shows signs of recovery.