Zcash (ZEC) is currently trading at $207.03, reflecting a significant 24-hour decline of 13.19%. The daily price action shows a range between $205.30 and $240.27, indicating high volatility with a daily range of 34.97%.

Volume over the past 24 hours stands at $260,285,702, representing 7.60% of its market cap. The moving averages indicate a downward trend, with the 8 SMA at $219.91 and the 144 SMA at $239.97, suggesting bearish momentum across various timeframes.

The 1-hour RSI is at a critically low level of 22, indicating oversold conditions, while the 7-day RSI sits at 42, suggesting a lack of buying momentum. Price changes over the past week, 14 days, and 30 days show significant declines of 20.84%, 26.75%, and 43.15% respectively, further confirming a bearish trend.

Given the steep drop in price, alongside the oversold RSI, there may be a potential for a short-term rebound. However, the overall trend remains negative, with critical resistance levels above the current price and no strong bullish indicators emerging.

In conclusion, I recommend a Hold rating on ZEC. While short-term fluctuations may present trading opportunities, the long-term downtrend and lack of solid support suggest that a cautious approach is warranted.