Arbitrum (ARB) is currently trading at $0.21288, showing a 24-hour decline of 1.65%. The price has oscillated between a daily high of $0.219283 and a low of $0.212868, reflecting a narrow daily range of just 0.006415%.

The trading volume of 66,298,567 indicates a relatively active market, with a volume-to-market cap ratio of 5.54%. Moving averages suggest a bearish trend, with the 8 SMA at $0.2153, down 1.13%, and the longer-term 55 SMA at $0.2186, down 2.62%, indicating selling pressure across various timeframes.

The 1-hour RSI stands at 26, signaling that ARB is in oversold territory, which could suggest a potential short-term bounce. Conversely, the 7-day RSI of 53 indicates that the asset is near neutral, while the 14-day price change shows a notable decrease of 12.82%, highlighting a medium-term downtrend.

The 30-day price change of -25.15% confirms the bearish sentiment surrounding ARB, as it has lost a significant portion of its value over the past month. With an all-time high of $2.39, currently, ARB is trading at approximately 91.10% below this peak, indicating potential for recovery but also significant risk.

In conclusion, the current market indicators point to a continued bearish trend, but the oversold RSI suggests a possible short-term rebound. Given the overall price action and negative momentum, a Hold rating is appropriate for ARB, as traders may want to wait for clearer signals before making significant moves.