Zcash (ZEC) is currently trading at $234.85, reflecting a minor 24-hour change of 0.28%. The daily price range has been notable, with a high of $249.96 and a low of $234.12, indicating volatility of approximately 15.84% over the past day.

Volume stands at 324,058,450, translating to a volume-to-market cap ratio of 8.33%. This suggests moderate trading activity, though the overall market sentiment appears bearish as indicated by the 7-day RSI of 37, which is below the neutral level of 50.

Technical indicators show that the short-term moving averages (8 SMA and 13 SMA) are declining, indicating downward pressure on the price. The 1-hour RSI is at 26, suggesting that ZEC is oversold in the very short term, but longer-term indicators like the 7-day and 30-day price changes are firmly negative at -20.03% and -35.01%, respectively.

Despite the current oversold condition indicated by the 1-hour RSI, the longer-term trend remains bearish with significant losses over the past month. The moving averages suggest resistance levels at $239.67, $242.39, and $242.66, which could hinder any immediate recovery.

Given the prevailing bearish trend and resistance levels, the outlook for ZEC remains cautious. The combination of oversold indicators in the short term does not outweigh the negative momentum seen in longer timeframes.

Based on this analysis, the rating for Zcash (ZEC) is a Sell. The lack of bullish momentum and significant resistance levels suggest that a rebound is unlikely in the near term, making it prudent to exit positions or refrain from new investments.