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The Stellar (XLM) price forecast is showing signs of bullish momentum as XLM trades above $0.27, showing a gain of over 2% in the past 24 hours.

Stellar analysis: Can bulls break $0.43 to spark next leg up?

The Stellar (XLM) price analysis shows a bullish setup as XLM trades around $0.27, showing a gain of over 3% in the past 24 hours. Traders are closely watching key levels, especially after the Relative Strength Index (RSI) bounced sharply from oversold territory.

With targets set at $0.43, $0.60, and even $0.86, the momentum seems to be building. However, macroeconomic events like the upcoming U.S. unemployment data and tariff updates could add some short-term turbulence.

Despite the broader cryptocurrency market showing signs of recovery, the U.S. economic figures will be closely observed by traders. A reading below expectations could quickly stall the current rebound.

Moreover, the updates on U.S. tariffs on goods from China will also be in focus. Any escalation in trade tensions could negatively impact risk-driven assets like Stellar.

From a technical perspective, the Stellar analysis shows that XLM is testing the inside trendline of a C-fork pattern, sitting within a strong support zone.

Stellar price analysis: Is a breakout from falling wedge in sight?

According to technical analysis, the Stellar price is poised for a breakout from a falling wedge, which is further supported by key Fibonacci levels.

Stellar (XLM) is testing the lower trendline of the falling wedge, which began in November 2022. A breakout from this pattern could spark a rally toward the 0.382 Fibonacci retracement level at $0.43.

This move is also supported by the Fibonacci analysis, as the wedge pattern's base coincides with the 0.236 Fibonacci level. Meanwhile, the wedge's apex aligns with the 0.5 Fibonacci level.

If the bulls manage to push through the resistance with strong volume, then further gains toward the 0.618 Fibonacci retracement level at $0.60 and the 1.0 Fibonacci level at $0.86 can be anticipated.

However, if the sellers manage to defend the resistance and push the price back down, then the next support level is at $0.25, followed by the crucial demand zone at $0.16.

Stellar is currently trading at $0.26.