Avalanche (AVAX) is currently priced at $11.4, experiencing a 24-hour decline of 5.42%. The daily trading range is relatively narrow at 0.81%, with a high of $12.09 and a low of $11.28, indicating a lack of volatility in the short term.

Trading volume stands at approximately 290.98 million, translating to a volume-to-market cap ratio of 5.91%. This suggests moderate trading activity, but the declining price could indicate a potential sell-off phase among investors, further supported by the negative 7-day and 14-day price changes of approximately -16.73% and -16.83%, respectively.

Moving averages illustrate a bearish trend, with all short-term averages (8, 13, 21, and 55 SMA) positioned below the current price, highlighting a potential downtrend. The 144 SMA at $12.24 also indicates resistance, with the price failing to regain upward momentum after recent declines.

The Relative Strength Index (RSI) readings reveal oversold conditions, with a 1-hour RSI at 23 and a 7-day RSI at 42. An RSI below 30 often signals potential reversal points, but in conjunction with the prevailing downtrend, it may suggest further downside before any recovery can be expected.

Given the significant distance from the all-time high of $144.96 and the lack of bullish momentum, the current outlook for AVAX appears negative. Coupled with the strong bearish indicators and recent performance, the recommendation is to sell, as further downside is likely before any stabilization or recovery can occur.