What is wrong with my olive tree?

[BusyBee]

I know it needs repotting, and it was doing so well and putting on new growth last month, but now it just looks sad and all the new leaves are gone. Can anyone tell me what happened to it and if I can revive it? Thanks for your help!

 

[Chuck]

Overwatered?

 

[BusyBee]

I've been watering it very little since we've had rain lately. It looks more like something ate away at the leaves and maybe the ends of the branches.