Arbitrum (ARB) is currently priced at $0.163508, reflecting a 24-hour decline of 4.45%. The daily trading range has been tight, with a high of $0.172527 and a low of $0.163165, indicating a lack of volatility in the short term.

The trading volume over the last 24 hours is approximately 86.76 million ARB, representing a volume-to-market cap ratio of 9.11%. This suggests moderate trading activity, but the price drop alongside this volume indicates selling pressure is dominating the market.

Technical indicators show a bearish trend, with hourly moving averages indicating significant losses; the 8 SMA at $0.1656 and the 55 SMA at $0.1692 reflect declines of 1.28% and 3.37%, respectively. The RSI metrics also point towards weakness, with a 1-hour RSI at 16 indicating oversold conditions, while the 7-day RSI at 44 suggests the asset is approaching a neutral zone.

In terms of price momentum, ARB has seen a substantial downturn over various time frames, with a 7-day change of -9.48%, a 14-day drop of -24.51%, and a 30-day decline of -15.46%. This consistent negative performance underscores a bearish sentiment among investors.

Given the lack of upward momentum, the current oversold RSI, and the significant downward trend, it is crucial to remain cautious. The price is currently far below its all-time high of $2.39, achieved earlier this year, which may attract speculative interest but does not guarantee recovery in the short term.

Considering the overall market conditions, price action, and technical indicators, the recommendation is to Hold ARB. This stance allows for observation of potential support levels or reversal patterns before making further investment decisions, as current price action suggests continued downward pressure.