This may be a situation of bitcoin and must altcoins currently in the market in my opinion.
Now, the term oversold has several applications for an asset’s price. For one, a coin’s price can fall below its true value over only a few dsys. This is usually the result of an overreaction to the market, or a panic, and the coin is considered oversold. Often, the expectation is that an oversold coin’s (bitcoins) price has dropped too far, and will soon bounce back. But evaluating whether a coin is oversold is subjective, and it’s important to remember that a sharply falling crypto may continue to fall.
Oversold could also refers to a technical analysis situation in which an asset’s price has fallen so far that an oscillator has reached a lower bound. Technical analysts evaluate securities by studying historical and market activity to predict future performance. A coin (bitcoin) is deemed oversold and undervalued if charting its performance reveals an oscillator that has reached a low extreme. Technical analysts seek such scenarios because they present buying opportunities.