Chainlink Soars on Open USD Partnership, Eyes $21.50 Target

Chainlink's price is receiving attention after a significant development in its ecosystem. A social media post from ALLINCRYPTO (@RealAllinCrypto) claims that Chainlink has been chosen as an official data oracle for Open USD (OUSD). This news has sent shockwaves through the cryptocurrency market, with many traders wondering if this could be the catalyst that pushes Chainlink's price above $21.50.

The post highlights that Open USD is an open standard backed by over 200 financial firms, including Visa, Mastercard, and Stripe. This partnership with Open USD positions Chainlink at the data layer of its on-chain infrastructure, which could have a significant impact on the cryptocurrency's price.

A technical analysis of Chainlink's 1-hour chart on Binance shows a symmetrical triangle pattern. The chart has been squeezing into the triangle, with lower highs and higher lows pushing the price toward the apex. The price has attempted a breakout above the upper trendline and is currently sustaining above it, which is a positive sign.

The key level to watch is $15.780, as a 1-hour close above it would confirm the breakout and flip the structure bullish. This would project a staircase of higher highs toward the major resistance at $21.500. On the other hand, a 1-hour close below $13.479 would point to $12.041.