Arbitrum (ARB) is currently priced at $0.176976, reflecting a notable 5.41% decrease over the last 24 hours. The daily trading range has been relatively narrow, with a high of $0.189749 and a low of $0.177043, indicating a volatile market sentiment.

The volume stands at 117,564,832, representing 11.40% of the market cap, which suggests active trading but may also imply uncertainty among investors. The hourly moving averages show a consistent downtrend, with the 8 SMA at $0.1831 reflecting a 3.36% decline, reinforcing bearish momentum across shorter time frames.

Technical indicators reveal a concerning RSI of 24 for the hour, indicating strong oversold conditions, while the 7-day RSI at 43 is approaching neutral territory but still suggests downward pressure. The price has fallen significantly over the past week by approximately 18.79%, and the 14-day and 30-day changes further illustrate a persistent decline of 14.15% and 3.54%, respectively.

Given the proximity of the price to recent lows and the bearish sentiment reflected in both price action and moving averages, the potential for a short-term rebound appears limited. Moreover, the distance from the all-time high of $2.39 indicates substantial downside risk, with current prices far from previous peaks.

In conclusion, the prevailing technical indicators, including the moving averages and RSI values, suggest a bearish outlook for ARB in the near term. Therefore, I recommend a Sell rating due to the ongoing downward momentum and lack of supportive fundamentals to drive a price recovery.