Zcash (ZEC) is currently trading at $355.43, reflecting a 24-hour change of -2.69%. The daily price range has been volatile, with a high of $403.75 and a low of $354.83, indicating a significant swing of 48.92% within the last 24 hours.

Volume has been robust at $1,174,864,841, accounting for 20.12% of the market cap, suggesting active trading interest despite the price decline. The hourly moving averages indicate a bearish trend, with the 8 SMA at $380.07 down 6.48%, the 13 SMA at $384.76 down 7.62%, and the 21 SMA at $381.67 down 6.87%, while the 55 SMA is at $363.58 down 2.24%.

The RSI metrics show that the 1-hour RSI is at 30, which indicates potential oversold conditions in the short term. However, the 7-day RSI at 44 suggests that ZEC is still within a bearish momentum phase, further supported by significant negative price changes of -23.31% over the past week and -37.89% over the past 14 days.

Zcash's current price is significantly below its all-time high of $3,191.93, reached on October 29, 2016, demonstrating a long-term bearish trend. Given the persistent downward pressure and the failure to maintain higher support levels, the market sentiment appears to remain negative.

Considering the technical indicators and the current market conditions, a Sell rating is warranted. The bearish trend reflected in both the moving averages and the RSI, combined with a significant drop in price over the past month, suggests that investors should consider liquidating their positions in ZEC for now.