$LAYER Closing above the rising trend will continue the upward phase, but now the trend has broken as you can see

1. Token Unlock and Increase in Supply: LAYER has seen a unlocking of a large number of tokens, leading to an increase in supply in the market. This sudden expansion in supply may have prompted some whales (large investors) to sell large quantities of tokens, negatively impacting the price.
2. Unbalanced Distribution Structure: Only about 21% of the total supply of LAYER is currently circulating, while the rest remains locked. This means that a few whales control a large portion of the tokens, making the market susceptible to significant fluctuations when they sell.