Market Positioned for Potential Upswing After Overselling, Says Analyst

According to BlockBeats, a CryptoQuant analyst has indicated that the market has entered an oversold territory following a significant correction. The analyst suggests that even without further drastic declines, the selling pressure in the market has been sufficiently alleviated, creating a favorable environment for potential upward movement without the need for additional substantial drops. In technical analysis, overselling refers to a situation where an asset or market has been excessively sold off due to continuous declines, resulting in prices falling below their fair or historical average levels.