Zcash (ZEC) is currently priced at $324.85, reflecting a 2.90% decrease over the last 24 hours. The daily trading range indicates significant volatility, with a high of $342.82 and a low of $324.34, resulting in a daily range of 18.48%.

Trading volume stands at 476,502,178, which contributes to a volume-to-market cap ratio of 8.87%. The hourly moving averages show a downward trend, with the 8, 13, and 21 SMA all trading below their respective levels, indicating persistent selling pressure in the short term.

The 1-hour Relative Strength Index (RSI) is at 35, suggesting that ZEC is nearing oversold conditions. However, the 7-day RSI at 46 indicates that the asset is not yet in a strong bullish reversal zone, reflecting ongoing weakness in momentum.

Over the past week, ZEC has experienced a price decline of 13.15%, and the 14-day and 30-day price changes are even more pronounced at -19.73% and -35.99%, respectively. This sustained downtrend is concerning, especially given the significant deviation from its all-time high of $3,191.93 reached in October 2016.

Considering the technical indicators and recent price action, ZEC appears to be in a bearish phase, with insufficient bullish momentum to suggest an immediate reversal. Given the current market conditions, I recommend a Hold rating, as investors may want to wait for clearer signs of trend reversal or stabilization before making any buying decisions.