Avalanche (AVAX) is currently trading at $13.13, reflecting a significant decline of 8.84% over the past 24 hours. The daily trading range has been relatively narrow, with a low of $12.71 and a high of $14.42, indicating a bearish sentiment in the short term.

Trading volume stands at approximately $712 million, representing 12.64% of the market capitalization, which suggests moderate investor activity. The hourly moving averages indicate a consistent downward trend, with the 8 SMA at $13.42 and the 55 SMA at $14.04, all signaling bearish momentum as they continue to decline.

Technical indicators reveal an overbought condition with a 1-hour RSI at 28, suggesting that short-term selling pressure is strong. Meanwhile, the 7-day RSI at 42 indicates that AVAX is nearing oversold territory but still lacks bullish momentum, as seen in the 7-day price change of -14.48%.

The longer-term perspective is troubling, with the 14-day price change at -20.09% and a staggering 30-day price change of -32.89%. These figures indicate a sustained downtrend, and the price is significantly below the all-time high of $144.96, suggesting substantial resistance ahead.

Given the current price action and technical indicators, the outlook for AVAX remains negative. With bearish trends persisting across multiple time frames and no signs of immediate recovery, a Sell rating is warranted. Investors should consider exiting their positions until a clearer bullish signal emerges.