I like to think about this graphically.
Say we're drawing a tangent to a log graph. Do you see that the tangent will be above the graph?
No, it's not because the function is increasing.

is also an increasing function, but you find that the tangent cuts underneath the graph. Why is this?
Well, for an over-approximation, the
gradient of the function is DECREASING where the tangent intersects with the function. So it's getting less and less steep, more flatter and flatter, allowing the tangent to lie on top of it.
For an under-approximation, the
gradient of the function is INCREASING where the tangent intersects with the function. The function itself will be getting more and more steep, allowing the tangent to lie underneath it.
That's how I feel will be the best way to explain it.