My first logo was hard rejected. Can you give me some advices?

Hi guys,
2 days ago I submited my frist item in graphicriver. This is the preview:

I ask to you what do you think about it and what the reasons can be for the reject. I think the typo can be the reason, maybe it is not 100% readable or maybe there are too much horse logo in the market. I really don’t know, also because Envato doesn’t give you a real explaination.
Anyway thank you a lot to everyone that will help me.