Stellar (XLM) Plunges 16% in 30 Days Amid Selling Pressure

The Stellar (XLM) cryptocurrency has been experiencing a downturn in recent weeks. According to data from Bitget, XLM is down 16% over the past month and 3.2% over the past week.

This decline follows a brief price surge in late May, which saw XLM reach a local high of $0.297 on May 30. However, the altcoin has since fallen back into a bearish phase.

The spot CVD metric from CryptoQuant, which measures cumulative buying and selling over three months, has been negative since June. This indicates that aggressive sellers have dominated the market, boding poorly for holders despite a bullish swing structure in XLM's price action.