Avalanche (AVAX) is currently priced at $13.66, reflecting a 24-hour decline of 4.11%. The daily price range has been relatively tight, between a high of $14.42 and a low of $13.55, indicating limited volatility despite substantial trading volume of $553.05 million, which represents 9.43% of its market cap.

Technical indicators show a bearish trend in moving averages, with the 8 SMA at $13.82 and the 144 SMA significantly higher at $14.77, suggesting resistance levels are not being met. The 1-hour RSI is at 48, and the 7-day RSI at 44 indicates a neutral to slightly bearish momentum, with downward pressure reflected in the recent 7-day, 14-day, and 30-day price changes of -13.09%, -17.73%, and -29.78%, respectively.

Fundamentally, AVAX has experienced a significant decline from its all-time high of $144.96, which it reached in November 2021, marking a drop of approximately 90%. This prolonged downtrend indicates a loss of investor confidence and suggests that current price levels may not attract significant new buying interest.

Given the current price action, technical indicators, and the overall market sentiment, a cautious approach is advised. With the price trending below key moving averages and an RSI indicating potential weakness, the recommendation for AVAX is to Hold, as further downside may be expected before any sustainable recovery emerges.