Arbitrum (ARB) is currently priced at $0.211516, reflecting a 24-hour decline of 5.63%. The daily trading range has been relatively tight, with a high of $0.224678 and a low of $0.212154, indicating a 24-hour volatility of just 5.63%.

Trading volume is robust at 120,240,866 ARB, representing 9.86% of the market cap, which suggests active market participation despite the recent price drop. The hourly moving averages are predominantly bearish, with the 8, 13, and 21 SMAs all indicating declines of over 3%, while the 144 SMA shows a slight increase of 0.19%, suggesting potential short-term support.

The 1-hour RSI sits at 29, indicating that ARB is in oversold territory and may be due for a short-term rebound. Conversely, the 7-day RSI of 55 suggests that the price momentum is stabilizing, as it has risen 10.95% over the past week, which is a positive indicator relative to the recent downturn.

Over the last 14 days, ARB has experienced a notable price increase of 14.90%, demonstrating resilience in a broader context. However, the 30-day price change of -1.51% indicates underlying weakness that could dampen enthusiasm for a sustained rally.

Given the proximity to support levels indicated by the 144 SMA and the oversold conditions shown by the 1-hour RSI, there is potential for a short-term rebound. However, the bearish sentiment in the moving averages and the significant drop in price over the last 24 hours suggest caution.

In conclusion, a Hold rating is appropriate for ARB at this moment. The recent decline and bearish moving averages indicate that a clear upward trend has yet to establish itself, but the oversold conditions and strong volume suggest potential for stabilization in the near term.