Arbitrum (ARB) is currently priced at $0.138441, experiencing a 3.80% increase over the last 24 hours, suggesting a potential short-term bullish sentiment. However, the daily range is relatively narrow at 0.008283%, indicating low volatility and caution among traders.

The volume of 167,066,098 reflects a Vol/Market Cap ratio of 20.68%, which is moderate, suggesting that there is decent trading activity relative to the market capitalization. Despite this, the 1-hour and 7-day RSI values are at 37 and 38 respectively, indicating that ARB is nearing oversold territory, which may suggest a lack of strong buying momentum.

Moving averages present a mixed picture; the 8 SMA shows a slight upward trend of 0.03%, while the longer-term 55 SMA has decreased by 5.44%, suggesting a bearish trend in the medium term. The 144 SMA also indicates a more significant decline of 12.72%, further emphasizing the downward pressure on price over the last several weeks.

Over the past 7 days, ARB has declined by approximately 18.30%, and the 14-day and 30-day price changes are even more alarming at -35.94% and -32.49% respectively. These trends indicate a significant loss of value, reflecting underlying selling pressure and possibly investor sentiment turning negative.

The all-time high of $2.39, reached in January 2024, indicates the potential for recovery, but current price levels are significantly below this peak. This disparity suggests that ARB is still struggling to regain confidence from investors, and without a substantial catalyst, a return to previous highs appears unlikely in the near term.

Given the current market conditions, including the recent price decline, mixed technical indicators, and low RSI values, the recommendation for Arbitrum (ARB) is to Hold. This stance is based on the potential for short-term recovery against a backdrop of longer-term bearish trends, requiring careful monitoring before considering any new positions or selling.