Zcash (ZEC) is currently priced at $362.14, reflecting a significant 7.93% decline over the last 24 hours. The daily trading range has been quite volatile, with a high of $400.38 and a low of $358.56, indicating a daily range of 41.82%.

Trading volume stands at $418.59 million, contributing to a volume-to-market cap ratio of 7.01%. The hourly moving averages suggest a bearish trend, with the 8 SMA at $386.58 down 6.32%, and the 55 SMA at $399.91 down 9.45%, indicating persistent downward pressure.

The 1-hour Relative Strength Index (RSI) is critically low at 19, signaling strong oversold conditions that may prompt a rebound. However, the 7-day RSI at 46 indicates a lack of bullish momentum, suggesting the market is still in a neutral to bearish phase.

From a longer-term perspective, ZEC has experienced a price decline of 4.84% over the past week and a more substantial 28.29% drop over the past 14 days. The 30-day price change of -19.46% reinforces the prevailing negative trend, further complicating the outlook for potential buyers.

Considering the all-time high of $3,191.93 reached on October 29, 2016, ZEC is currently trading at approximately 11.35% of its peak value, highlighting its significant depreciation over the years. The technical indicators and price action suggest that ZEC is currently under pressure, with bearish sentiment prevailing in the market.

Given the current technical indicators, bearish trends, and the extremely low RSI readings, a cautious approach is recommended. Therefore, I assign a Sell rating for ZEC at this time, as the market dynamics indicate a high risk of further declines before a potential recovery can be considered.