Arbitrum (ARB) is currently trading at $0.098848, reflecting a 3.79% increase over the past 24 hours. The price has oscillated between a high of $0.105911 and a low of $0.091608 during this period, indicating a daily range of 0.014303, which suggests moderate volatility.

The trading volume over the last 24 hours stands at approximately 118.95 million, resulting in a volume-to-market cap ratio of 20.69%. This volume indicates healthy trading activity, but it is essential to note that the price has declined by over 8% in the past week, with longer-term price changes showing a 41.94% decrease over the last 30 days.

From a technical perspective, the hourly moving averages present a mixed outlook. The 8 SMA shows a decline of 4.43%, while the 21 SMA indicates a slight upward movement of 0.88%, suggesting potential short-term resistance around $0.1034 and support near $0.0946.

The 1-hour RSI is currently at 63, indicating that ARB is nearing overbought territory, while the 7-day RSI at 51 suggests it is in a neutral state. The divergence between the short-term and long-term momentum indicators underscores the potential for a consolidation phase, as the 14-day and 30-day price changes remain negative.

Despite the recent price uptick, the significant losses over the last month and the mixed signals from the moving averages and RSI indicate caution. Given the current price relative to its all-time high of $2.39, the potential for substantial recovery remains, but short-term resistance may hinder immediate gains.

In conclusion, the current technical indicators and recent price action suggest a Hold rating for ARB. While there is potential for upward movement if market conditions improve, the overall trend remains bearish in the longer term, warranting a cautious approach.