Avalanche (AVAX) is currently priced at $11.99, reflecting a slight decline of 1.09% over the last 24 hours. The daily trading range has been narrow, with a high of $12.16 and a low of $11.98, indicating low volatility in the short term.

Volume stands at approximately $125.95 million, with a volume-to-market cap ratio of 2.44%, suggesting moderate trading activity relative to its market capitalization. The hourly moving averages indicate a bearish trend, with the 8 SMA at $12.04 and declining progressively through the longer SMAs, signifying downward price pressure.

Technical indicators show an RSI of 37 on the hourly chart, indicating that AVAX is approaching oversold conditions, while the 7-day RSI of 46 reflects a lack of strong momentum. The asset has experienced a notable price decline over the past week (-12.98%) and over the last 14 days (-12.58%), suggesting bearish sentiment persists in the market.

Despite the recent price drop, the 30-day change is marginal at -0.74%, indicating potential consolidation or stabilization around current levels. However, the significant gap from the all-time high of $144.96, reached in November 2021, highlights the ongoing downtrend and the challenges ahead for AVAX.

Given the current bearish indicators and lack of momentum for a turnaround, the recommendation for Avalanche (AVAX) is to Hold. Investors should monitor for a potential reversal, especially if RSI levels improve and volume increases significantly, which could signal a buying opportunity in the future.