Arbitrum (ARB) is currently priced at $0.089622, reflecting a significant 24-hour decline of 7.82%. The price has fluctuated within a daily range of $0.008292, with a high of $0.097227 and a low of $0.088935, indicating a bearish sentiment in the short term.

The trading volume stands at approximately 62.39 million, contributing to a volume-to-market cap ratio of 11.95%. This suggests a relatively active market, although the declining price indicates that selling pressure may be dominating.

Technical indicators reveal a concerning picture; the 1-hour RSI is at 16, suggesting an oversold condition, while the 7-day RSI sits at 36, indicating weakness in momentum. Additionally, all moving averages from 8 SMA to 144 SMA are trending downward, with the 144 SMA showing a decline of 13.13%, which reinforces the bearish trend.

From a longer-term perspective, ARB has shown substantial price decreases over the past 30 days, down nearly 49.37%. The price is currently far below its all-time high of $2.39, recorded earlier this year, highlighting the drastic loss in value.

Given the current technical indicators, high selling pressure, and significant price declines, a cautious approach is warranted. The combination of oversold conditions and bearish moving averages may present a potential for a short-term rebound, but the overall trend remains negative.

Rating: Hold. While there may be opportunities for short-term trading, the prevailing bearish sentiment and declining price momentum suggest it is not the right time to invest heavily in ARB.