Avalanche (AVAX) is currently priced at $12.03, reflecting a 24-hour change of -2.82%. The asset has experienced a daily trading range of 0.4%, with a high of $12.38 and a low of $11.98, indicating limited volatility in the short term.

The trading volume stands at approximately 154.9 million, representing 2.99% of the market cap, suggesting moderate market interest. However, the negative price changes over the last 7 days (-12.73%) and 14 days (-13.10%) indicate a bearish trend, with momentum weakening in the longer term.

Technical indicators reveal that all hourly moving averages are showing negative percentages, with the 8 SMA at $12.07 down 0.34% and the 144 SMA at $12.41 down 3.04%. The 1-hour Relative Strength Index (RSI) is at 30, indicating that AVAX is oversold in the short term, while the 7-day RSI of 41 suggests it is approaching oversold territory.

Historically, AVAX reached its all-time high of $144.96 in November 2021, underscoring the substantial decline since then. The recent 30-day price change of -2.93% also points to a lack of recovery momentum and sustained bearish sentiment.

Given the current market conditions, including weak price action, negative technical indicators, and oversold signals, a cautious approach is warranted. Therefore, I recommend a Hold rating on AVAX, as the potential for a short-term rebound exists, but the overall trend suggests caution until clearer bullish signals emerge.