Shocking plunge! LAYER crashed 38%, funds fled collectively on the eve of the big unlock?

On May 6, CoinsProbe reported that according to the Crypto King’s official account, after the Mantra (OM) plunge, Solayer (LAYER) was not spared. In the past few hours, the price of LAYER plummeted 38%, almost giving up all the gains since April. Previously, the token had soared 155% from the low point on April 8, but now it has fallen back to the $1.94 area, just touching the intersection of the 50-day moving average and the key support. If it fails, it may drop to $1.33.

The market generally believes that the upcoming unlocking of 27.02 million LAYER tokens on May 11 (accounting for 12.87% of the circulation, worth more than $53 million) triggered panic selling and became the fuse of this plunge.

It is worth noting that @VivanLive issued a warning as early as mid-April, saying that LAYER may repeat the OM trend, and pointed out that "the price trend is highly suspicious, and unlocking may be a key time point." The chart shows that LAYER has clearly shown a bullish trend on the eve of the market decline, and whether there is insider trading is still a hot topic.

The market is currently watching whether the $1.94 support can be maintained, and the next step may reveal the truth. Do you need me to help you analyze the trend near this support point?