Arbitrum (ARB) is currently trading at $0.114546, reflecting a 4.82% decrease over the last 24 hours. The price range during this period was between a low of $0.112519 and a high of $0.120957, indicating increased volatility in the market.

Volume over the past 24 hours was approximately 68,291,199 ARB, translating to a market cap volume ratio of 10.23%, which suggests a moderate level of trading activity relative to its market capitalization. The hourly moving averages show mixed signals, with the 8-hour SMA indicating a slight upward trend of 0.56%, while longer-term averages, such as the 55-hour SMA, reflect a downward trend of 2.41%.

The 1-hour RSI stands at 29, which suggests that ARB is currently in oversold territory, indicating potential for a short-term rebound. In contrast, the 7-day RSI is at 52, showing neutral momentum, while longer-term indicators reveal a substantial decline, with the 30-day price change at -45.52%.

Considering the significant drop from its all-time high of $2.39 reached in January 2024, the current price represents a substantial depreciation. However, the recent price action and RSI readings suggest a potential bottoming out, making ARB a candidate for a tactical buy if it can hold above the critical support level around $0.1125.

Given the technical indicators and current price levels, I recommend a Buy rating for ARB. The oversold conditions and the possibility of a short-term reversal present a favorable entry point, especially if bullish momentum begins to build.