Avalanche (AVAX) is currently trading at $12.15, reflecting a slight decline of 1.34% over the last 24 hours. The daily price range has been relatively tight, fluctuating between $12.03 and $12.43, indicating low volatility and a lack of strong buying or selling momentum.

The volume over the past 24 hours is significant at approximately $261.57 million, accounting for 4.99% of the market cap. The moving averages suggest a bearish trend, with the 144-day SMA at $12.60 representing a resistance level that has not been surpassed, while shorter-term SMAs also indicate a downward trajectory.

In terms of momentum indicators, the 1-hour RSI stands at 51, suggesting a neutral short-term sentiment. However, the 7-day RSI at 42 indicates an oversold condition, which may signal a potential reversal in the coming days if buying interest increases.

Over the past week, AVAX has dropped approximately 10.40%, and the 14-day change shows a decline of about 11.31%, indicating a sustained bearish trend. The 30-day change is relatively flat, showing a minor decline of 0.29%, which suggests that longer-term investors may still be holding their positions despite recent volatility.

The all-time high for AVAX remains at $144.96, reached in November 2021, highlighting the asset's significant retracement from its peak. Given the current price action, technical indicators, and the overall market environment, it appears that AVAX is facing considerable resistance and bearish pressure.

Based on the analysis, the recommendation for Avalanche (AVAX) is to Hold. This stance is supported by the neutral RSI readings and significant volume, indicating that while there is short-term weakness, potential buying opportunities may emerge if the price stabilizes and reverses from the current levels.