Avalanche (AVAX) is currently priced at $13.29, experiencing a significant decline of 7.91% over the last 24 hours. The daily range reflects a low of $13.24 and a high of $14.51, indicating a tight trading band amidst broader bearish sentiment.

The volume of 414,983,032 AVAX represents a volume-to-market cap ratio of 7.27%, suggesting increased trading activity but not enough to support a price recovery. Short-term moving averages indicate a downward trend, with the 8 SMA at $13.75 showing a decrease of 3.32% and the 21 SMA at $14.16 reflecting a 6.13% drop.

Momentum indicators such as the 1-hour RSI at 8 indicate extreme oversold conditions, which could suggest a potential short-term rebound. However, the 7-day RSI is at 44, approaching neutral territory, and reflects ongoing bearish pressure, while the 30-day price change of -20.22% highlights a longer-term downtrend.

Avalanche's all-time high of $144.96 reached in November 2021 is a stark contrast to the current price, underscoring the significant market corrections that have occurred. The recent 7-day price change of -10.65% further confirms the prevailing bearish sentiment, making it crucial for traders to reassess entry points.

Given the technical indicators and the current market conditions, a cautious approach is warranted. The overwhelming bearish trend, highlighted by both short-term and long-term metrics, leads to a Sell rating as AVAX shows no immediate signs of reversal or support to suggest a bullish turnaround in the near term.