Arbitrum (ARB) is currently priced at $0.096164, reflecting a slight decline of 0.75438% over the last 24 hours. The daily trading range has been narrow, with a high of $0.104367 and a low of $0.096082, indicating limited volatility and potential price consolidation.

The trading volume stands at approximately $93.12 million, representing 16.61% of the market cap, which suggests moderate interest in the asset at this price level. However, the moving averages indicate a bearish trend, with the 8 SMA at $0.0989 showing a 2.80% decline, and longer-term averages also trending downwards, further confirming negative momentum.

The 1-hour RSI is extremely low at 7, signaling that ARB is in oversold territory and may be due for a short-term rebound. In contrast, the 7-day RSI at 40 suggests that the asset is nearing neutral territory, but the overall trend remains negative, with significant price declines of 19.63% over the past week and even steeper drops of 46.38% over the last 30 days.

Given the substantial distance from its all-time high of $2.39, reached on January 12, 2024, ARB appears to be experiencing a prolonged bearish cycle. Market sentiment has shifted negatively, which is evident in the recent price action and technical indicators.

Considering the current technical indicators, along with a lack of bullish momentum and high volatility, the outlook for Arbitrum remains cautious. Therefore, the recommendation is to Hold at this time, awaiting signs of stabilization or a reversal in trend before considering new positions or additional investments.