According to ChainCatcher, CryptoQuant analyst said, "The market has entered the oversold zone after a significant correction. Even without further drastic declines, the selling pressure in the market has been fully released, making it a favorable area for potential upside, without the need for further substantial declines."
Oversold is a term in technical analysis, referring to a situation where an asset or market has been excessively sold off due to continuous declines, resulting in the price falling below its reasonable or historical average level.
