Avalanche (AVAX) is currently trading at $13.59, reflecting a 7.18% increase in the last 24 hours. The daily price action has seen a range from a low of $12.62 to a high of $13.70, indicating volatility within a narrow band of 1.08%.

The trading volume stands at approximately $519.61 million, contributing to a volume-to-market cap ratio of 8.90%, suggesting healthy trading activity. Short-term moving averages show a bullish trend, with the 8 SMA at $12.99 and a 4.66% increase, while longer-term averages like the 144 SMA at $14.23 indicate potential resistance.

The 1-hour Relative Strength Index (RSI) is notably high at 90, indicating overbought conditions and potential for a pullback. In contrast, the 7-day RSI at 48 suggests that AVAX is nearing neutral territory, while longer-term metrics reveal negative price changes over the past 7 days (-2.47%), 14 days (-8.19%), and 30 days (-25.59%).

Despite the recent uptick in price, AVAX remains significantly below its all-time high of $144.96 from November 2021, highlighting a persistent bearish trend over the longer term. The combination of overbought short-term momentum and the bearish longer-term outlook suggests caution for new positions.

Given the current technical indicators, particularly the high 1-hour RSI and the unfavorable longer-term price changes, I recommend a Hold rating on AVAX. Investors should monitor for potential price corrections and reassess entry points as the market stabilizes.