Zcash (ZEC) is currently trading at $346.95, reflecting a 2.20% increase over the past 24 hours. The daily trading range has been significant, spanning from a low of $333.60 to a high of $350.23, indicating notable volatility.

The trading volume stands at $721.17 million, representing a volume-to-market cap ratio of 12.64%, suggesting healthy trading activity relative to market capitalization. However, the 7-day and 14-day price changes of -20.26% and -41.42% respectively signal a bearish trend over the longer term, despite the recent positive daily performance.

From a technical standpoint, the hourly moving averages show that the short-term sentiment is slightly bullish, with the 8 SMA at $343.19 up by 1.10%, and the 21 SMA at $342.35 up by 1.35%. In contrast, the 144 SMA at $348.57 indicates a slight bearish trend with a decrease of 0.46%, suggesting resistance around this price level.

The 1-hour RSI is currently at 60, which indicates that ZEC is nearing overbought territory, while the 7-day RSI at 51 indicates a neutral momentum. This divergence suggests that while short-term buying pressure exists, the overall market sentiment remains cautious due to the larger downtrend observed over the past month.

Given the current price dynamics and technical indicators, Zcash is experiencing a short-term bounce amid a longer-term bearish trend. Therefore, the recommendation is to Hold ZEC at this time, as potential resistance around $348.57 may limit further upward movement, while waiting for clearer bullish signals before considering new positions.