Avalanche (AVAX) is currently trading at $9.38, with a minor 24-hour change of -0.13758%. The daily trading range is relatively tight at 0.24%, indicating low volatility, as the price fluctuated between $9.16 and $9.40 over the past day.

Volume stands at approximately $233.97 million, representing a volume-to-market cap ratio of 5.78%, suggesting moderate trading activity. The 1-hour Relative Strength Index (RSI) is at 59, indicating potential near-term upward momentum, while the 7-day RSI at 55 signals a neutral trend overall.

Short-term moving averages are showing a bullish trend, with the 8-period and 13-period SMAs both increasing by approximately 1.23% and 1.31%, respectively. However, the longer 55 SMA is flat at -0.02%, which may signal resistance at the current price level, while the 144 SMA indicates a more pronounced upward trend with a gain of 3.82%.

In terms of price changes, AVAX has seen a significant 7-day increase of 6.90%, although it has declined by 6.17% over the last 14 days and a substantial 31.52% over the past month. This indicates a potential recovery in the short term, but longer-term momentum remains negative.

Given the proximity to the recent lows, current support appears to be around the $9.16 mark, with resistance near $9.40. The all-time high of $144.96 from November 2021 remains a distant target, highlighting the need for sustained bullish momentum to approach previous highs.

In conclusion, despite recent short-term gains, the longer-term trend remains bearish, and the mixed signals from moving averages and RSI suggest caution. Therefore, a Hold rating is appropriate, allowing investors to monitor for potential further price stabilization before making any buying decisions.