Arbitrum (ARB) is currently trading at $0.106223, reflecting a 24-hour decline of 2.599%. The daily trading range has been narrow, fluctuating between a low of $0.106201 and a high of $0.111793, indicating limited volatility.

Volume stands at 72,346,167, with a volume-to-market cap ratio of 11.69%, suggesting moderate trading activity relative to its market capitalization. The current price is well below its 8, 13, and 21-hour simple moving averages (SMAs), which are all indicating a bearish trend, particularly with the 55 SMA at $0.1116 showing a decline of 4.85%.

The 1-hour Relative Strength Index (RSI) is at 28, indicating that ARB is in oversold territory and may be due for a short-term correction. However, the 7-day RSI at 43 shows it is still on the brink of a bearish trend, reinforcing the lack of buying momentum in the medium term.

In terms of price performance, ARB has seen a significant downturn over the past month, with a 30-day price change of -47.64%. This extended bearish trend is further supported by the 14-day price change of -37.64%, which suggests a continued loss of investor confidence.

The all-time high for ARB was recorded at $2.39 on January 12, 2024, indicating substantial room for recovery if market conditions improve. However, given the current market dynamics and technical indicators, the path to regaining lost ground appears challenging.

Considering the current oversold conditions, a short-term bounce could be anticipated, but the overall trend remains bearish. Therefore, the recommendation is to Hold ARB for the time being, as the market requires clearer bullish signals before any buying actions are justified.