LTC/USD Consolidates inside Ichimoku Cloud after LitePay Launch is Paused [Video]

It’s Kiana with News BTC and here is your cryptocurrency update. Litecoin investors were looking forward to some delicious rallies this week as they awaited the launch of LitePay; a service designed to accept Litecoin payments. However, the card registration process was delayed on Tuesday, due to hostile actions by card issuers towards crypto companies. They said in an email to their mailing list that they will continue to monitor the situation with regards to card services and will open registration as soon as a reliable product can be supported. Later on Tuesday, LitePay, Inc. Tweeted “Merchant Payment Processing Account registration is ongoing. Depending on your location, documentation, and type of business - verification times will vary. LitePay Card support is not available at this time.” Litecoin’s creator, Charlie Lee, cheered the decision on Twitter, saying “For Litecoin adoption, merchant processing is much more important than crypto debit cards. Using LTC debit card is not really paying with Litecoin. Merchants still pay high fees and you still have to deal with fraud.” We need to keep in mind that Litepay is not a project under the supervision of the Litecoin community, however, they work closely with each other. LTC’s price consolidated versus the USD inside the daily Ichimoku cloud on the news, unable to break out of the range between $202 and $238. However, versus Bitcoin, it saw sharp declines on Monday and Tuesday, forming a Double Top chart pattern, approaching the neckline of 0.0195 while remaining above the daily Ichimoku cloud. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

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