Arbitrum (ARB) is currently trading at $0.096858, experiencing a notable decline of 5.85% over the past 24 hours. The daily trading range has been relatively tight, with a high of $0.105911 and a low of $0.095796, indicating potential resistance at the higher end and support near the lower end.

Trading volume stands at 117,816,143, contributing to a volatility ratio (Volume/Market Cap) of 20.90%, suggesting that there is significant trading activity relative to its market cap. The moving averages show a bearish trend across the short to medium term, with the 8 SMA at $0.1000 down 3.17%, and the 13 SMA at $0.0999 down 3.00%, reinforcing the downward momentum.

The hourly RSI is at a critical level of 24, indicating strong oversold conditions, while the 7-day RSI is neutral at 50, suggesting a lack of directional momentum. However, the 14-day and 30-day price changes of -10.92% and -42.63% respectively signal a significant bearish trend over the medium to long term.

Given the current price significantly below its all-time high of $2.39, which was achieved on January 12, 2024, there appears to be a substantial downside risk. The market is currently in a corrective phase, and despite oversold conditions indicated by the hourly RSI, there are no strong buy signals from the moving averages or longer-term price trends.

In conclusion, while the oversold hourly RSI might suggest a potential short-term bounce, the overall trend remains bearish with no confirmation of a reversal. Therefore, the rating for Arbitrum (ARB) is a Sell, as the technical indicators and fundamental price movements indicate further downside risk before any potential recovery.