Several alternative coins are showing signs of being oversold after significant drops, with three specific tokens—Solayer (LAYER), Biswap (BSW), and Voxies (VOXEL)—being identified as potential candidates for a rebound. LAYER has witnessed a 19% decrease this week following a 45% crash, while BSW and VOXEL have experienced drops of over 15% and 25.5%, respectively.

All three tokens have Relative Strength Index (RSI) readings below 25, indicating intense selling pressure. Their Relative Strength (RS) metrics show that they have performed below the wider market. Although a bounce back is not guaranteed, these technical conditions often precede short-term relief rallies if market sentiment improves.

Solayer (LAYER) encountered a 45% crash within hours recently, erasing around $350 million in market cap and undoing previous bullish momentum due to thin liquidity, cascade liquidations, and panic whale selling. The RSI for LAYER currently sits at 23.35, signifying oversold conditions, with the RS showing underperformance compared to the broader market.

Biswap (BSW) has declined by more than 15% in the last 24 hours, facing strong selling pressure amidst a general weakness in mid-cap alternative coins. With an RSI below 30 at 23.95, BSW indicates possible oversold conditions, while its RS suggests slight underperformance compared to the wider market.

Voxies (VOXEL), the token for Voxie Tactics, a retro 3D tactical RPG, has dropped by 11% in the last 24 hours and 25.5% over the past week, with an RSI of 24.9, indicating oversold territory. The RS of VOXEL versus the broader market signals underperformance but not significant lag.

This combination of low RSI and moderate underperformance often sets the stage for a short-term rebound, especially if selling pressure diminishes or market engagement intensifies.