Arbitrum (ARB) is currently trading at $0.217024, reflecting a 24-hour decrease of 1.04%. The price has fluctuated between a 24-hour high of $0.224576 and a low of $0.213818, indicating a daily range of approximately 0.010758, which suggests a relatively stable trading environment despite the slight downturn.

The trading volume stands at 118,014,923, with a volume-to-market cap ratio of 9.68%, pointing towards moderate market activity. The hourly moving averages indicate a bearish trend, with the 8, 13, and 21 SMA showing declines of 1.51%, 1.79%, and 2.01% respectively, while the 55 SMA is slightly bullish at +0.41%, indicating potential support around $0.2161.

The 1-hour RSI is at 35, which indicates that ARB is nearing the oversold territory, suggesting potential for a short-term rebound. However, the 7-day RSI is at 50, illustrating a neutral sentiment in the medium term, while the 7-day price change shows a decline of approximately 2.92%.

Looking at longer-term trends, the 14-day price change is positive at +0.23%, suggesting some recovery potential, but the 30-day price change indicates a significant drop of about 12.86%. With the all-time high at $2.39 set on January 12, 2024, the current price reflects a substantial discount, implying potential upside for long-term investors.

Given the current technical indicators and the price action, the recommendation is to Hold. The bearish short-term momentum suggests caution, but the oversold RSI and positive 14-day change indicate potential for recovery in the near future. Holding positions allows investors to assess further developments while avoiding the risk of locking in losses during this corrective phase.