Arbitrum (ARB) is currently trading at $0.096356, reflecting a significant 24-hour decline of 10.11%. The price has tested a daily range between a high of $0.107264 and a low of $0.095783, indicating increased volatility and bearish pressure.

Volume for ARB stands at approximately 113.94 million, contributing to a volume-to-market cap ratio of 20.29%. This ratio suggests a healthy trading activity relative to its market capitalization, though the downward price movement may indicate weakening demand.

The hourly moving averages show a negative trend, with the 8 SMA at $0.0976 reflecting a decline of 1.27%, and the 21 SMA at $0.0996 down 3.22%. The 55 SMA and 144 SMA further confirm bearish momentum, indicating a loss of upward price momentum over both short and longer timeframes.

The Relative Strength Index (RSI) for the 1-hour period is at 35, suggesting that ARB is approaching oversold conditions. Meanwhile, the 7-day RSI is at 40, indicating continued weakness, with both the 14-day and 30-day price changes showing significant declines of 13.05% and 48.48%, respectively.

Given the current price level compared to its all-time high of $2.39, ARB has considerable room for recovery, but the recent bearish trend and negative technical indicators suggest caution. With the current market dynamics reflecting a lack of bullish momentum and the potential for further price retracement, a Sell rating is appropriate at this time, until we see stabilization and a clear reversal pattern.