Arbitrum (ARB) is currently trading at $0.099202, reflecting a significant 12.22% decrease over the past 24 hours. The daily price range has been tight, with a high of $0.113009 and a low of $0.099265, indicating a bearish trend as it approaches the lower end of this range.

The volume of 84,611,988 suggests moderate trading activity but is overshadowed by a Vol/Market Cap ratio of 14.62%, signaling potential liquidity issues. The hourly moving averages also indicate a downward trajectory, with the 8 SMA at $0.1057 showing a decline of 6.18%, further confirming the bearish sentiment.

Momentum indicators are notably weak, with the 1-hour RSI at 15, indicating extreme oversold conditions. The 7-day RSI of 42 suggests that while the asset is not currently in the overbought territory, it is nearing a pivotal point that could lead to further downside if not corrected soon.

Over the last week, ARB has seen a price decline of 10.31%, and it has dropped 19.27% over the past 14 days. Furthermore, the 30-day price change of -47.54% highlights a significant downtrend, suggesting sustained bearish pressure and a lack of buying interest.

The all-time high of $2.39 from January 2024 remains a distant target, emphasizing the stark contrast between current trading levels and historical performance. This considerable gap underlines the asset's struggle to regain investor confidence and maintain upward momentum.

In conclusion, given the current technical indicators, including the moving averages and RSI levels, alongside the significant decline in price, a Sell rating is warranted. The market sentiment appears overwhelmingly negative, with little indication of a reversal in the short term, making it prudent for investors to exit their positions.