Avalanche (AVAX) is currently trading at $12.07, reflecting a 24-hour decline of 2.98%. The price has experienced a daily range of 0.52%, with a high of $12.44 and a low of $11.92, indicating limited volatility in the short term.

The trading volume over the past 24 hours stands at approximately $324 million, representing 6.25% of the market capitalization. The hourly moving averages show a downward trend, with the 8 SMA at $12.15, the 13 SMA at $12.12, and the 21 SMA at $12.17, all indicating slight declines.

Technical indicators reflect a neutral to bearish sentiment, with the 1-hour RSI at 43, suggesting that AVAX is approaching oversold territory. However, the 7-day RSI at 52 indicates a balanced market, while longer-term metrics show a 7-day price change of -2.08%, a 14-day decline of -17.40%, and a 30-day drop of -9.06%, highlighting ongoing bearish pressure.

Avalanche's all-time high remains significantly above the current price at $144.96, suggesting a substantial gap in value. The recent downward trend and the negative price changes over multiple time frames suggest investor sentiment may be shifting towards caution.

Based on the current analysis, the recommendation is to Hold AVAX. Although the asset is nearing potential oversold conditions, the persistent bearish momentum and technical indicators do not support a bullish entry point at this time. Waiting for clearer signs of recovery or stabilization may be prudent.