Arbitrum (ARB) is currently trading at $0.202215, reflecting a 24-hour decline of 2.22%. The asset has experienced a daily range between $0.198424 and $0.216279, indicating moderate volatility within the session.

The volume of 121,793,911 translates to a market cap volume ratio of 10.73%, suggesting active trading but lower institutional interest. Short-term moving averages, particularly the 8, 13, and 21 SMAs, are all indicating a downward trend, with declines ranging from 3.48% to 4.41%, signaling potential bearish sentiment.

The 1-hour RSI is at 31, approaching oversold conditions, while the 7-day RSI stands at 49, indicating a neutral trend. In contrast, the price changes over the last 7, 14, and 30 days show a downward trajectory of -0.08%, -6.78%, and -22.74%, respectively, highlighting sustained weakness in the asset.

With the all-time high of $2.39 reached on January 12, 2024, current prices suggest a significant depreciation from peak levels. If ARB cannot reclaim the $0.216 level, it may face further downside risk, particularly as the momentum indicators show weakness.

Given the technical indicators, the bearish trend in short-term moving averages, and the recent price action, I recommend a Hold rating. Investors should monitor for potential reversal signals before considering a Buy, as the current momentum does not support bullish positioning.