Arbitrum (ARB) is currently trading at $0.193955, reflecting a 24-hour change of 2.19%. The daily price action shows a high of $0.19415 and a low of $0.189495, indicating a daily range of 0.004655%, which is relatively stable given the recent volatility in the broader market.

The trading volume stands at approximately 58.2 million, which corresponds to a volume-to-market cap ratio of 5.24%. The hourly moving averages are showing upward momentum, with the 8 SMA at $0.1924 and the 55 SMA indicating a stronger trend at $0.1904, suggesting a bullish sentiment in the short term.

The 1-hour RSI is at 63, indicating that ARB is nearing overbought conditions, while the 7-day RSI at 53 reflects a neutral stance over the past week. However, the 14-day price change shows a decline of approximately 8.87%, and the 30-day price change is down about 12.36%, suggesting that ARB has struggled in the mid-term.

Despite these challenges, the recent 7-day price change of 2.05% shows some recovery, possibly indicating a reversal in sentiment. The all-time high for ARB was $2.39, achieved on January 12, 2024, which provides a significant upside potential compared to the current price.

Taking into account the recent upward momentum, stable trading volume, and the potential for a price correction from recent lows, the recommendation is a Buy. The short-term technical indicators suggest continued bullish momentum, while the longer-term outlook remains promising due to the substantial gap to the all-time high.