Avalanche (AVAX) is currently trading at $9.40, reflecting a 1.98% increase over the last 24 hours. The daily price range has been tight, with a high of $9.39 and a low of $9.13, indicating short-term consolidation.

The volume of 204,932,894 represents a volume-to-market cap ratio of 5.06%, suggesting moderate trading activity relative to the market cap. The hourly moving averages show positive momentum, with the 8 SMA at $9.23 (+1.89%) and the 21 SMA at $9.20 (+2.23%), indicating short-term bullish sentiment.

The 1-hour Relative Strength Index (RSI) is elevated at 74, suggesting that AVAX may be overbought in the short term. However, the 7-day RSI at 53 indicates that the asset is neither overbought nor oversold in the medium term, while the 14-day change shows a negative trend of -7.61%, suggesting some bearish pressure.

Over the last 30 days, AVAX has declined by 32.65%, which highlights a significant bearish trend and potential resistance at higher levels. The all-time high of $144.96 achieved in November 2021 is still far from the current price, indicating a long-term downtrend since then.

Considering the current price action, technical indicators, and recent price history, the recommendation is to Hold. The short-term bullish indicators suggest potential for upward movement, but the significant long-term decline and overbought conditions in the hourly RSI indicate caution is warranted.