Arbitrum (ARB) is currently priced at $0.213387, reflecting a significant 24-hour decline of 8.41%. The asset has experienced a daily trading range between $0.211956 and $0.239817, indicating heightened volatility as traders react to recent market conditions.

The volume of 247,276,085 and a volume-to-market cap ratio of 20.61% suggest increased trading activity, although the declining price indicates sellers currently dominate the market. The hourly moving averages reveal a bearish trend, with all significant SMAs (8, 13, 21, 55, and 144) exhibiting negative changes ranging from -1.85% to -8.78%.

Technical indicators show a 1-hour RSI of 29, indicating that ARB is in oversold territory, which may suggest a potential reversal. However, the 7-day RSI at 45 and further declines over the past 7, 14, and 30 days (down 11.22%, 22.14%, and 30.66% respectively) indicate persistent downward momentum.

Despite the oversold conditions, the overall trend remains negative, with no significant bullish signals present in the current data. The all-time high of $2.39, achieved earlier in January 2024, remains far above the current price, indicating a substantial loss of market value since then.

Given the current bearish market conditions, the lack of strong support levels, and the negative moving averages, a Sell rating is warranted. Traders should look for stabilization or bullish signals before considering re-entry into ARB.