Arbitrum (ARB) is currently trading at $0.091071, reflecting a 24-hour decline of 3.45%. The price is situated within a daily range of $0.005271, hitting a high of $0.095819 and a low of $0.090548, indicating a volatile session with relatively low trading activity given the volume of approximately 78.15 million.

Technical indicators reveal a bearish trend, with hourly moving averages all trending downward; the 8 SMA is at $0.0930 (-2.10%), the 13 SMA at $0.0929 (-1.94%), and the 21 SMA at $0.0934 (-2.45%). The 144 SMA, which typically indicates longer-term sentiment, is notably lower at $0.0988 (-7.86%), suggesting persistent selling pressure.

The Relative Strength Index (RSI) readings further support a bearish outlook, with the 1-hour RSI at 40 and the 7-day RSI at 38, both indicating that the asset is nearing oversold territory but not yet reversing. Additionally, Arbitrum has experienced significant price drops over various timeframes, with a 7-day change of -20.32%, a 14-day change of -16.67%, and a staggering 30-day change of -47.63%.

Considering the technical analysis, the current price is substantially below historical performance, especially when juxtaposed against its all-time high of $2.39. The combination of downward momentum in moving averages, negative RSI values, and considerable recent price declines presents a bearish sentiment in the short to medium term.

Given the current market conditions, a rating of Sell is warranted. The persistent downtrend in both price and technical indicators suggests further declines are likely, and investors should consider exiting positions or avoiding new investments until a clearer bullish reversal signal emerges.