Arbitrum (ARB) is currently priced at $0.364828, reflecting a minor decline of 1.30% over the last 24 hours. The daily trading range has been relatively narrow, with a high of $0.373277 and a low of $0.362823, indicating limited volatility in the short term.

The trading volume stands at approximately 93.2 million, which represents 5.53% of its market cap, suggesting moderate trading activity. The moving averages reveal a bearish sentiment, with the 8, 13, and 21 SMAs all showing negative changes, particularly the 21 SMA at -1.04%, reinforcing a downward trend in the near term.

The 1-hour RSI is positioned at 36, indicating that ARB may be oversold in the short term, while the 7-day RSI at 50 suggests a neutral momentum over the past week. Despite a slight uptick in the 7-day and 14-day price changes of 2.19% and 3.43%, respectively, the 30-day price change indicates a significant decline of 22.72%, which highlights a longer-term bearish outlook.

Given the current technical indicators, including the negative moving averages and low RSI, there appears to be limited bullish momentum. Coupled with the substantial decline over the past month and the prevailing market conditions, a cautious stance is warranted.

Recommendation: Hold. While there are signs of short-term overselling, the broader trend remains bearish, and potential investors should wait for a clearer reversal signal before considering a buy.