To me it looks under watered, not over watered.
Fill your pot with soil to the same level as the hill you have created around the stem, this hill will act like a wick and suck moisture out of the soil near it, leading to dry soil and a drooping plant like you have.
By having the soil all one level, it will preserve the moisture in the pot much more evenly.
Watering deeply to run off (water coming out of the bottom of the pot) is much better than giving small amounts of water often.
Deep watering achieves several things, firstly it ensures that the substrate is moist from top to bottom. Secondly, it helps to prevent nutrient salts from building up to toxic levels and burning your plant, and thirdly, it will encourage the roots to grow deep and wide, providing a good anchor for your plant and an effective nutrient and water finding network.
Shallow watering only encourages shallow roots that stay near the surface, meaning the plant is at risk of falling over in strong winds and a poor network of nutrient and water finding roots that ultimately leads to a smaller plant.
Water again once the top 2-3 cm are dry again, which could be anywhere from 1 -7 days later and don't fall into the trap of watering for the sake of watering and to just feel as though you are doing something for your plant.
Hope this helps,............
Organoman.