Avalanche (AVAX) is currently trading at $20.93, reflecting a 24-hour change of -1.75%. The daily range indicates volatility is relatively low, with a 24-hour high of $21.30 and a low of $19.91, resulting in a daily range of 1.39%.

Volume stands at approximately $439 million, representing a volume-to-market cap ratio of 4.98%, suggesting moderate trading activity relative to its market capitalization. Short-term moving averages are indicating bullish momentum, with the 8 SMA at $20.49, the 13 SMA at $20.36, and the 21 SMA at $20.43, all showing positive changes, while the longer-term 55 and 144 SMAs indicate bearish trends.

The 1-hour RSI is at a high level of 91, indicating overbought conditions, while the 7-day RSI at 46 suggests that the asset is nearing neutral territory, potentially signaling a reversal. The recent price changes over 7 days (-8.68%), 14 days (-6.23%), and 30 days (-3.95%) illustrate a bearish trend in the medium term, which may be weighing on investor sentiment.

Avalanche has experienced a significant decline from its all-time high of $144.96, which was reached in November 2021. This substantial decrease indicates that the asset is currently trading at approximately 86% below its peak value, highlighting ongoing challenges in the market.

Given the technical indicators and the recent bearish price action, the recommendation for Avalanche (AVAX) is to Hold. While there are signs of potential short-term upward movement, the overall trend remains negative, and caution is warranted until clearer bullish signals emerge.