Avalanche (AVAX) is currently priced at $8.96, showing a 24-hour change of 3.11%. The asset's daily range indicates slight volatility, with a high of $9.41 and a low of $8.66, reflecting a narrow trading corridor of approximately 0.75%.

Trading volume stands at $424 million, translating to a volume-to-market cap ratio of 10.96%, suggesting robust trading activity relative to its market capitalization. However, the price is significantly below its all-time high of $144.96 reached in November 2021, indicating a substantial decline in value over time.

Technical indicators show that the short-term moving averages are in a bearish alignment, with the 8 SMA at $9.24 down 3.06% and the 13 SMA at $9.25 down 3.10%. The 1-hour RSI is at 47, suggesting that the asset is nearing neutral territory but has not yet reached oversold conditions, while the 7-day RSI of 45 indicates continued selling pressure.

From a trend perspective, the 7-day price change is down 15.43%, the 14-day change is down 25.85%, and the 30-day price change is down 34.96%. This consistent downtrend reinforces bearish sentiment, which may limit short-term recovery potential.

Considering the technical data, fundamental background, and the current price action, the overall outlook for AVAX appears negative. With significant resistance levels above the current price and ongoing bearish momentum, the recommendation is to Sell AVAX until clear bullish signals emerge.