Zcash (ZEC) is currently priced at $242.75, reflecting a notable 16.35% increase over the past 24 hours. The daily price range demonstrates high volatility, with a 24h high of $253.89 and a low of $190.86, leading to a daily range of 63.03%.

Trading volume stands at approximately $902 million, contributing to a volume-to-market cap ratio of 22.51%. This indicates substantial trading activity, likely fueled by recent price movements, and suggests increased investor interest in the asset.

Short-term moving averages indicate bullish momentum, with the 8 SMA at $233.47 (+3.98%) and the 13 SMA at $225.84 (+7.49%). However, the longer-term 144 SMA at $271.24 shows a decline of 10.50%, suggesting potential resistance at higher price levels.

The 1-hour RSI at 80 indicates overbought conditions, which may lead to a price correction in the short term. Conversely, the 7-day RSI at 44 suggests that ZEC is approaching neutral territory, but it has faced a decline of nearly 29% over the past week, indicating underlying bearish sentiment.

Despite the recent bullish surge, ZEC has experienced significant downward pressure over the last 30 days, with a price decline of approximately 49%. This longer-term trend, combined with overbought short-term indicators, presents a mixed outlook for traders.

Considering the substantial volatility and short-term bullish momentum, a cautious approach is advisable. Therefore, the recommendation is to Hold ZEC at this juncture, as potential corrections could provide better entry points for long-term investors.