HYPE Hits Record $59.50, TRX 18% Below All-Time High

The HYPE token broke past its previous record of $59.50 on May 14, 2026, pushing into a price discovery phase after holding an ascending trend line. On the same day, TRX was trading 18% below its all-time high of $0.45, having broken out of an ascending parallel channel it had maintained since November 12, 2025. These are the only two altcoins with clean technical setups for a new cycle high, and both now face distinct decision points for traders.

HYPE: Price Discovery After Trendline Bounce

The HYPE token had been consolidating below its prior record for several sessions. The bounce off the ascending trend line aligned with volume support, and the break above $59.50 turned that level into a potential floor. Price discovery means there is no overhead resistance to reference. The next concrete test is whether buyers can hold the token above the old high on a retest. If HYPE closes below $59.50 in the next week, the breakout becomes a failed move. A sustained hold, however, opens the path to a new range with no predefined top. Traders should watch for a volume drop as a sign of exhaustion or a second leg higher on increased participation.