Avalanche (AVAX) is currently trading at $13.58, showing a 24-hour change of -1.86%. The daily trading range has been relatively tight, between a low of $13.49 and a high of $14.18, indicating limited volatility in the short term.

Trading volume is substantial at approximately $408.96 million, representing 7% of the market cap, which suggests a healthy level of trading activity. However, the price is below key moving averages, with the 8 SMA at $13.69 and the 21 SMA at $13.73, all indicating bearish momentum over the short term.

The 1-hour RSI sits at 49, suggesting that the asset is neither overbought nor oversold, while the 7-day RSI at 45 indicates a slightly bearish trend. The 7-day price change reflects a notable decline of over 6.26%, contrasting with a positive 14-day price change of nearly 9.76%, highlighting short-term weakness against a more favorable mid-term trend.

Despite the recent downturn, the 30-day price change of 1.58% indicates some resilience in the longer term. Nonetheless, the significant distance from the all-time high of $144.96 also underscores the downward pressure on price and potential market sentiment challenges.

Given the current technical indicators, including the proximity to moving averages and the RSI values, the outlook appears cautiously bearish in the short term. Therefore, the recommendation for Avalanche (AVAX) is to Hold, as it may be prudent to wait for clearer bullish signals before considering any new positions.