Avalanche (AVAX) is currently trading at $9.38, reflecting a notable 7.69% increase over the last 24 hours. The price action has been volatile, with a daily high of $9.78 and a low of $8.71, indicating a range of 1.07% within the day.

The trading volume stands at approximately $771.76 million, contributing to a volume-to-market cap ratio of 19.06%, which is a healthy indicator of market activity. The hourly moving averages suggest a bearish short-term trend, with the 8 SMA at $9.50 showing a decline of 1.26%, while the 21 SMA is at $9.45, down by 0.76%.

The RSI metrics reveal a mixed sentiment; the 1-hour RSI is at a low 22, suggesting short-term oversold conditions, while the 7-day RSI is at 51, indicating a neutral sentiment. Over the past week, AVAX has gained approximately 6.20%, yet it remains down 20.18% over the past 30 days, highlighting significant price weakness in the medium term.

Technical indicators show that AVAX is facing resistance near the $9.50 level, as evidenced by the 8 and 13 SMAs trending downwards. Conversely, the 55 SMA at $8.79 shows a strong bullish trend of +6.76%, which may provide support should the price dip below current levels.

From a fundamental perspective, the all-time high of $144.96 reached in November 2021 serves as a long-term benchmark, but current performance is significantly below historical levels, indicating a need for caution. The recent price increase may attract short-term traders, yet the overall trend remains bearish, particularly considering the 30-day price decline.

Given the mixed signals from both technical and fundamental analyses, the recommendation for AVAX is to Hold. The current price reflects potential short-term trading opportunities, but the bearish trend and medium-term price weakness suggest that a cautious approach is warranted until clearer bullish signals emerge.