Ahead of May, WhiteBIT Coin (WBT), Tron (TRX) and Hyperliquid (HYPE) are drawing attention as the altcoins closest to record highs.

On April 28, blockchain media outlet BeInCrypto reported that the three have relatively short distances to record highs among other major altcoins, prompting talk of possible near-term breakouts.

WBT is trading about 16 percent below its record high, while TRX is about 25 percent lower and HYPE is about 33 percent below. Markets are focusing on the idea that the smaller the gap to a peak, the more likely inflows could concentrate if investor sentiment recovers.

WBT is moving sideways in the high $53 range. A key resistance level is suggested around $57. This zone overlaps with the 0.618 retracement level, and an analysis says a breakout could leave room for additional gains to $60.50 and the record high of $64.41. On a decline, the $50 level is seen as a key support zone.

Technical indicators are mixed. The relative strength index (RSI) is maintaining an uptrend, but the moving average convergence divergence (MACD) is showing a short-term bearish signal. Trading volume is declining, prompting a view that it is closer to a phase of searching for direction than strong selling pressure. Markets are citing quarterly token burns, reduced exchange liquidity and expanded collaboration with Juventus as bullish factors.

TRX is moving within a rising parallel channel around $0.323. It has recently rebounded after rechecking support at $0.32. The area overlaps with the 0.5 retracement level and is viewed as technically significant.

On the upside, $0.35 is identified as the key resistance level. TRX has already surpassed its January high this year, forming a new high structure in several months. RSI and MACD point to short-term deceleration, but an analysis says corrective pressure is also limited due to declining volume.

Attention is focused in particular on the Tron network's stablecoin supply being at an all-time high. Markets also see that TRX could re-challenge its record high if rising USDT inflows and a low-volatility upward structure persist.

HYPE is showing the most volatile short-term movement. It slid nearly 5 percent over the past day to the $39 range, but the market is watching whether it can defend the trendline around $40 as a key variable. The area is where the long-term uptrend line overlaps with the 0.5 retracement.

In a bullish scenario, regaining $44.54 is cited as the first turning point. An analysis says that if it then breaks above resistance at $50, it could open the possibility of retesting the record high of $59.41. RSI and MACD are both showing the weakest readings among the three, leading to an assessment that the short-term burden is relatively larger.

Markets are citing Hyperliquid's token buyback-and-burn structure and an expanded share in the decentralised perpetual futures market as medium- to long-term bullish factors. Another view says it is still too early to conclude a full-fledged shift to a downtrend as the correction continues amid declining volume.

Ultimately, the outlook for May is expected to hinge on whether all three break above or hold their key price levels. WBT's break above $57, TRX holding $0.32 support and approaching $0.35, and HYPE defending $40 and regaining $44.54 are each cited as important variables.