Arbitrum (ARB) is currently trading at $0.112243, reflecting a 24-hour change of -2.35%. The daily price range has been relatively tight, with a high of $0.115713 and a low of $0.111812, indicating a lack of significant volatility in the short term.

Trading volume over the past 24 hours stands at approximately $57.6 million, equating to a volume-to-market cap ratio of 8.81%. This suggests moderate trading activity, yet it does not indicate any strong conviction from traders in either direction.

Technical indicators show that the short-term moving averages (8 SMA, 13 SMA, and 21 SMA) are all in negative territory, reflecting a bearish trend. The 55 SMA and 144 SMA also confirm this downward pressure, with declines ranging from -1.01% to -1.79%, indicating ongoing selling momentum.

The 1-hour RSI is at 48, suggesting that ARB is neither overbought nor oversold, while the 7-day RSI is slightly higher at 51. However, the 14-day RSI indicates a more bearish sentiment, confirming that the price has been under pressure over a longer timeframe.

Fundamentally, ARB's price has dropped significantly over the past 30 days by approximately 42%, suggesting a critical need for bullish momentum to stabilize. Despite a minor recovery of about 2.09% over the past week, the overall trend remains negative, with a stark contrast to its all-time high of $2.39 reached in January 2024.

Given the current technical indicators, the persistent downward trend, and the weak bullish signals, the recommendation is to Hold ARB at this time. Waiting for a stronger confirmation of upward momentum is prudent before considering a Buy, as the market sentiment remains cautious and the recent price action does not indicate a trend reversal.