Zcash (ZEC) is currently trading at $285.81, reflecting a notable 12.11% increase over the past 24 hours. The daily price range has been significant, with a high of $288.38 and a low of $254.65, indicating volatility that has driven substantial trading activity with a volume of $554,860,530.

The hourly moving averages show a bullish trend, with the 8 SMA at $282.72 and the 13 SMA at $280.08, both indicating upward momentum. The 21 SMA and longer averages confirm this trend, with the 55 SMA at $249.37 showing a 14.61% increase, suggesting strong support levels beneath the current price.

The 1-hour RSI is at 67, nearing overbought territory, while the 7-day RSI of 58 suggests that ZEC is still within a favorable range but may approach overbought conditions soon. In the short term, the 7-day price change of 19.69% reflects positive momentum, though the 14-day and 30-day changes of -8.62% and -31.26% indicate a longer-term bearish trend.

With the all-time high of $3,191.93 reached in October 2016, ZEC currently stands at a fraction of its peak value, suggesting significant potential for recovery. However, the current high volatility and the RSI nearing overbought levels warrant caution.

Given the strong short-term momentum but conflicting longer-term indicators, a Hold rating is advised. This strategy allows investors to monitor the price action closely while assessing whether the bullish trend can be sustained in the near term without triggering a pullback.