Arbitrum (ARB) is currently trading at $0.154346, reflecting a significant decline of 5.87% over the past 24 hours. The daily trading range has been tight, with a high of $0.164305 and a low of $0.151935, indicating a bearish sentiment in the short term.

Trading volume stands at approximately 144.73 million, translating to a volume-to-market cap ratio of 16.09%. This suggests moderate interest from traders, but the declining price and recent volume trends point to a lack of conviction in upward movement at current levels.

Technical indicators reveal a bearish trend, with the 8, 13, and 21-period Simple Moving Averages (SMAs) indicating continued downward pressure, particularly the 55 SMA at $0.1653 and the 144 SMA at $0.1693. The 1-hour Relative Strength Index (RSI) at 36 signals potential oversold conditions, but the 7-day RSI at 40 confirms weakness in momentum, limiting immediate recovery prospects.

In terms of price performance, ARB has seen significant declines over multiple time frames, with a 7-day drop of 13.02%, a 14-day decline of 26.60%, and a 30-day decrease of 18.91%. This consistent downtrend suggests that negative sentiment persists, and recovery may be challenging without a substantial market shift.

Given the current price levels, bearish momentum, and failure to hold above key moving averages, the outlook for Arbitrum remains negative. Despite the possibility of a short-term rebound given the oversold conditions indicated by the RSI, the broader trend is still unfavorable.

Therefore, the recommendation is to Hold ARB at this time, with a cautious eye on potential support levels. Investors should await clearer bullish signals or a reversal pattern before considering an entry point, as further downside risks remain prominent.