This is clearly a plant getting too much light. the nodes are too tight... this is probably why the leaves are a bit yellow and also droopy.
you've got 3-4 nodes all from virtually the same spot on stem.. 2 cm betwen all the nodes? that's too much light.
watering may or may not be an issue, but it doesn't cause what is seen here in either case.
you need more aeration in your soil -- more perlite or similar. go 50/50 if it's a high water capacity substrate. with a low-water capacity medium, like coco coir, you only need about 33% perlite. Both will end up being roughly 50% air/50% water per volume.. this is the goal.
water entire volume, which you seem to be doing. wait for top 1" to dry and repeat.. simple as that. in coco wait for top layer to change color and irrigate.. feel the weight of the pot.. this is a good way to know when to irrigate, too. Also, if it ever wilts, feel the weight and avoid getting "that" light in future. A good wet-dry cycle early is an investment in the future.
with proper drainage/aeration qualities, it's virtually impossible to overwater. i doubt it is the cause of your droopy leaves given the fact it clearly is being given too much light at the moment. if it is still droppy after you have corrected this light issue, then you can bring suffocating roots back into equation... and it should be a temporary symptom (if caused by overwatering) only after you water and eventually perk up as it gets less damp.