Zcash (ZEC) is currently priced at $421.38, reflecting a significant 12.52% decline over the last 24 hours. The daily price range has been notably volatile, with a high of $485.58 and a low of $384.50, indicating a substantial fluctuation of 101.08%.

The trading volume has reached approximately $1.3 billion, translating to a volume/market cap ratio of 18.62%, suggesting a relatively high trading activity relative to its market capitalization. Technical indicators reveal that the 1-hour RSI stands at 30, indicating an oversold condition, while the 7-day RSI at 44 suggests the price is approaching a potential support level but remains in a bearish trend.

Moving averages indicate consistent downward pressure, with the 8 SMA at $437.20 reflecting a decline of 3.62%, and the longer-term averages further confirming bearish sentiment with the 144 SMA at $495.36 down 14.93%. The price changes over various time frames reveal a 7-day decline of 19.48%, suggesting a lack of buying interest and possible bearish sentiment among traders.

Given the current market conditions, ZEC's price is significantly below key moving averages, which typically acts as resistance levels, thereby affirming the bearish outlook. The distance from the all-time high of $3191.93, achieved in October 2016, further emphasizes the substantial downtrend ZEC has faced over the years.

In conclusion, the current technical indicators, combined with recent price action and sentiment, suggest a Sell rating for Zcash (ZEC). The significant price drop, continued bearish momentum, and oversold conditions indicate that there may be further downside risk before any meaningful recovery can occur.