Arbitrum (ARB) is currently priced at $0.116502, reflecting a 24-hour decline of approximately 2.98%. The asset has traded within a narrow range of $0.115436 to $0.120219 in the last day, indicating low volatility, with a daily range of 0.004783%.

Volume stands at 64,119,504, representing 9.44% of its market capitalization. The short-term moving averages are trending downwards, with the 8 SMA at $0.1183 showing a decline of 1.52%, suggesting bearish momentum.

The 1-hour RSI is at 40, indicating that ARB is nearing oversold territory. Meanwhile, the 7-day RSI is at 43, further confirming a lack of buying pressure as the price has fallen by nearly 14% over the past week.

In the past 14 days, ARB has decreased by approximately 29.64%, and its 30-day change is a significant decline of about 43.96%. The considerable drop from its all-time high of $2.39 achieved in January 2024 underscores the asset's current bearish trend.

Given the consistent downtrends in both short and medium-term price movements, along with low RSI readings, the market sentiment appears negative. Thus, based on the technical indicators and recent performance data, the recommendation is to Sell ARB, as the asset lacks bullish momentum and shows no signs of immediate recovery.