Zcash (ZEC) is currently trading at $370.15, experiencing a significant 24-hour decline of 11.56%. The daily price range is notably wide, with a high of $418.53 and a low of $365.42, indicating heightened volatility in the market.

Volume stands at approximately $722.36 million, with a volume-to-market cap ratio of 11.86%, suggesting a healthy trading activity relative to its market capitalization. The 1-hour RSI is at 25, indicating oversold conditions, while the 7-day RSI is at 38, reflecting bearish sentiment over a longer period.

Moving averages further confirm the downtrend, with the short-term SMAs (8 and 13 periods) showing declines of approximately 3.15% and 3.09%, respectively. The 21 SMA indicates a larger decline of 5.49%, while the 55 and 144 SMAs show deeper retracements of 10.35% and 19.84%, respectively, suggesting that the downtrend is persistent across multiple time frames.

The 7-day and 14-day price changes reveal losses of approximately 27.33% and 27.80%, respectively, reflecting sustained bearish momentum. Additionally, the 30-day price change of -18.48% further confirms the ongoing trend of depreciation, with no immediate signs of reversal.

Given the current technical indicators, Zcash is significantly below its all-time high of $3191.93, achieved in late 2016, which highlights the magnitude of the price correction it has experienced. The overall market sentiment and technical indicators point toward continued selling pressure in the near term.

Considering the current oversold conditions indicated by the RSI, potential short-term rebounds may occur; however, the prevailing trend remains bearish. Based on the analysis of technical indicators and market sentiment, a Sell rating is warranted, as the risks of further decline outweigh the potential for recovery at this time.