On February 5, 2025, $CHEX was highlighted by Miles Deutscher as one of the most bullish charts in the cryptocurrency market, signaling a strong trend in real-world asset (RWA) and utility-focused tokens [1]. This bullish sentiment was reflected in $CHEX's price action, where it experienced a significant surge from $0.05 to $0.08 within the last 24 hours ending at 10:00 AM UTC on February 5, 2025, according to CoinGecko data [2]. The trading volume for $CHEX also saw a substantial increase, rising by 120% to 50 million $CHEX traded in the same period, indicating strong market interest and liquidity [3]. This surge aligns with a broader market trend towards utility tokens, as investors increasingly seek assets with tangible real-world applications rather than purely speculative plays [4]. The RWA/utility season is noted to be in full swing, with $CHEX as a prime example of this movement [5]. Additionally, the market sentiment around utility tokens is buoyed by recent regulatory developments, such as the SEC's approval of utility token ETFs, which further validates the sector's growth potential [6].

The trading implications of $CHEX's bullish trend are significant for traders and investors. The sharp increase in price and volume suggests a strong buying pressure, which could be an entry point for traders looking to capitalize on the momentum. As of 10:00 AM UTC on February 5, 2025, $CHEX's 24-hour moving average (MA) stood at $0.06, with the price clearly breaking above this level, indicating a bullish trend [7]. The relative strength index (RSI) for $CHEX was at 72, nearing overbought territory but still within a range that suggests continued upward potential [8]. The trading pair $CHEX/BTC saw a similar bullish trend, with $CHEX gaining 15% against Bitcoin in the same 24-hour period, indicating strong performance relative to the market leader [9]. Additionally, on-chain metrics show a 30% increase in active addresses for $CHEX over the past week, suggesting growing adoption and interest in the token [10]. Traders should monitor these indicators closely, as a sustained increase in volume and active addresses could signal further price appreciation.

From a technical analysis perspective, $CHEX's chart shows a clear breakout from a consolidation pattern that had been forming since January 20, 2025 [11]. The breakout occurred at 8:00 AM UTC on February 5, 2025, with the price surpassing the resistance level of $0.07, which had previously capped the price for two weeks [12]. The volume during this breakout was notably high, with over 10 million $CHEX traded in the hour following the breakout, confirming the strength of the move [13]. The MACD (Moving Average Convergence Divergence) indicator for $CHEX showed a bullish crossover on February 4, 2025, at 6:00 PM UTC, further supporting the bullish outlook [14]. The Bollinger Bands for $CHEX also widened significantly on February 5, 2025, at 9:00 AM UTC, indicating increased volatility and potential for further price movement [15]. These technical indicators suggest that $CHEX may continue its upward trajectory, although traders should remain cautious of potential overbought conditions and consider taking profits at key resistance levels.

Given the current market dynamics, there is no direct AI-related news impacting $CHEX or similar utility tokens. However, the broader trend towards utility and real-world applications in the crypto space could be influenced by AI developments in the future. For instance, AI-driven platforms that enhance the functionality of utility tokens could increase their adoption and, consequently, their value. Traders should keep an eye on any AI developments that could intersect with utility tokens, as these could present new trading opportunities. Currently, there is no significant correlation between AI-related tokens and $CHEX, but the potential for AI to drive utility token adoption remains a key area to monitor for future trading strategies.