Avalanche (AVAX) is currently trading at $13.65, reflecting a 6.61% increase over the last 24 hours. The daily range has been relatively tight, with a high of $13.73 and a low of $12.73, indicating some stability despite recent volatility.

The trading volume stands at approximately $521.75 million, equating to a volume-to-market cap ratio of 8.91%, which suggests a healthy level of trading activity relative to its market capitalization. Short-term moving averages indicate bullish momentum, with the 8 SMA at $13.18 showing a 3.59% increase and the 13 SMA at $13.10 up by 4.21%, while the 55 SMA reflects a slight decline of 3.12%.

In terms of momentum indicators, the 1-hour RSI at 75 suggests that AVAX may be overbought in the short term, while the 7-day RSI at 44 indicates potential bearishness or lack of momentum over a longer timeframe. Furthermore, the 7-day, 14-day, and 30-day price changes show declines of approximately 2.99%, 6.07%, and 25.49% respectively, highlighting ongoing bearish pressure over the medium to long term.

The significant gap between the current price and the all-time high of $144.96 reinforces the potential for future growth, but also indicates the volatility and risk associated with AVAX. Given the recent bullish momentum in the short term against a backdrop of longer-term bearish trends, the current market conditions suggest a cautious approach.

Considering the short-term bullish indicators against the longer-term bearish trends, I recommend a Hold rating. This strategy allows investors to observe whether the recent upward movement can sustain itself and provide clearer signals for future action.