Celestia’s TIA Token Faces Critical Support Test Amid Bithumb Exchange Turbulence

Celestia's TIA token is testing a crucial support level at $1.63 following a 7.55% daily drop, with neutral RSI readings concealing underlying market tensions. The modular blockchain's price action shows competing forces - recent ethereum rollup integration progress clashes with lingering concerns from Bithumb's temporary transaction suspension.

Market dynamics reveal deeper currents. While July's 6.16% surge on infrastructure news showed bullish potential, today's pullback indicates profit-taking. The Celestia Foundation's $62.5 million token redemption from Polychain Capital adds complexity, potentially creating near-term supply pressure despite solid long-term tokenomics.

Technical indicators present mixed signals. The 40.05 RSI suggests neither overbought nor oversold conditions, leaving traders to balance fundamental developments against broader market uncertainty. This equilibrium follows recent volatility that saw TIA reach higher prices before retreating to current support levels.