Zcash (ZEC) is currently priced at $327.49, reflecting a significant 24-hour decline of 9.30%. The price has fluctuated between a high of $362.88 and a low of $325.61 during this period, indicating high volatility with a daily range of 37.27%.

Trading volume stands at approximately $335.43 million, representing 6.19% of ZEC's market capitalization, which suggests active trading despite the recent price drop. Technical indicators show that ZEC is trading below all relevant hourly moving averages, with the 8 SMA at $357.23, indicating bearish sentiment in the short term.

The 1-hour RSI of 15 indicates that ZEC is severely oversold, suggesting a potential for a short-term price rebound. However, the 7-day RSI of 45 signals neutral momentum, while the 7-day price change of -15.37% and the 30-day price change of -26.57% reflect a persistent downtrend.

Historically, ZEC's all-time high was $3,191.93 in October 2016, which underscores the current price's significant depreciation over the years. Given the sharp recent declines and the bearish moving averages, the immediate outlook remains negative, suggesting that further downside may still be possible.

Considering the oversold condition indicated by the 1-hour RSI and potential for a bounce, a cautious Hold rating is warranted. Traders should monitor for signs of stabilization or reversal before committing to new positions, as the overarching trend is still bearish.