Is It Possible to Lose Skin Elasticity from Too Many Chemical Peels and Laser Treatments?

Can a loss of skin elasticity and deeper nasolabial folds be a result of too many chemical peels and laser treatments? I had a series of glycolic peels followed by a laser treatments 6 months later for melasma. Shortly after the laser treatment I noticed significantly deeper nasolabial folds. I wasn't sure if this is coincidental or if I need to slow down on the treatments. I am only 31 and the onset of the nasolabial folds seemed to happen quick.