Aave Price Consolidates Near $100 as Governance Vote Looms

Aave's price has been steadily rising over the past week, gaining more than 1.5% to reach $98.39. However, traders are showing mixed signals as they weigh in on the outcome of a recent governance vote.

The proposed network exit proposal, which aims to wind down operations on six blockchain networks that generated less than $5,000 in quarterly protocol revenue, has left some market participants feeling uncertain about Aave's future prospects.

According to technical indicators, upside momentum remains moderate as volatility rises and buying demand continues. However, a break above the current resistance level of $102.54 could trigger a test of $112.17.

Aave's governance proposal has sparked concerns about risk mitigation, with markets freezing and borrowing costs rising in response to the updated Risk Framework.