Arbitrum (ARB) is currently trading at $0.115113, reflecting a 24-hour decrease of 2.46%. The daily price range has been relatively tight, with a high of $0.119602 and a low of $0.115011, indicating low volatility in the recent trading session.

The trading volume of 65,007,973 ARB represents 9.69% of its market cap, suggesting decent liquidity but not overwhelming trading activity. The hourly moving averages indicate a bearish trend, with the 8 SMA at $0.1166 and the 55 SMA at $0.1185, all showing negative percentages, reinforcing the lack of upward momentum.

Both the 1-hour and 7-day Relative Strength Index (RSI) readings are at 48 and 44, respectively, with the 7-day RSI approaching oversold territory. The recent price changes illustrate a bearish trend, with a 7-day decline of approximately 13.93%, a 14-day drop of about 32.06%, and a significant 30-day decrease of roughly 44.11%.

The all-time high for ARB remains significantly elevated at $2.39, achieved earlier in 2024, highlighting the potential for recovery if market conditions improve. However, current price action and momentum indicators suggest a struggle for upward movement, as the cryptocurrency remains far below its all-time high.

Given the bearish indicators across both short and medium-term timeframes and the lack of significant buying pressure, the current price level of $0.115113 appears to be a weak support. Therefore, the recommendation for ARB is to hold, as further downside risk exists, and a clearer bullish signal is needed before considering a buy.