Avalanche (AVAX) is currently priced at $10.03, reflecting a 24-hour change of -1.39%. The daily trading range has been tight, with a high of $10.22 and a low of $9.55, indicating limited volatility over the past day.

The trading volume stands at approximately $448.35 million, representing 10.35% of the market cap, which suggests a healthy level of trading activity. However, the downward pressure on the price is evident, with a 7-day RSI at 39, indicating that the asset is approaching oversold conditions.

The hourly moving averages show a bearish trend, with the 8 SMA at $10.06 and the 13 SMA at $10.09, both in decline. The longer-term 144 SMA at $10.58 is down 5.20%, suggesting that the recent price action is consistently below these key moving averages, further reinforcing the bearish sentiment.

In the last week, AVAX has declined by over 16.55%, and the 14-day change reveals a similar bearish trajectory of nearly 17.67%. This trend continues with a significant drop of about 29.97% over the past month, indicating sustained selling pressure and a lack of bullish momentum.

Given the current technical indicators, including the RSI levels and moving averages, as well as the recent price trends, the outlook for AVAX remains negative. Therefore, the recommendation is to Hold, as further declines could present a potential buying opportunity if prices stabilize or show signs of recovery.