Arbitrum (ARB) is currently trading at $0.111718, reflecting a significant decline of 9.30% over the past 24 hours. The daily price range has been relatively tight, fluctuating between $0.098916 and $0.12421, indicating ongoing volatility but a bearish trend given the overall negative price action.

The volume of 331,053,885 indicates robust trading activity, with a volume-to-market cap ratio of 50.81%, suggesting strong investor engagement at these price levels. However, the technical indicators paint a bleak picture, with moving averages showing a bearish outlook; the 55 SMA and 144 SMA are down 10.42% and 15.96%, respectively, indicating a long-term downward trend.

The 1-hour RSI is at 40, signaling that the asset is approaching oversold conditions but does not yet indicate a strong reversal. The 7-day and 14-day RSIs are at 38 and reflect continued bearish sentiment, while the 30-day price change shows a drastic decline of nearly 48%, suggesting prolonged weakness in momentum.

With an all-time high of $2.39 reached in January 2024, ARB is currently trading over 95% lower, highlighting a significant loss in value and investor confidence. The persistent downtrend over multiple timeframes underscores the need for caution, especially as the price remains below critical moving averages.

Given the current bearish indicators, the lack of momentum for recovery, and the substantial downward price changes, the recommendation is to hold ARB. This stance allows for monitoring potential reversals while avoiding potential losses in the prevailing market environment.