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Ethereum (ETH) is showing positive momentum in December 2024, following a 50% surge since November. Analysts predict ETH could challenge the $4,000 resistance level soon, supported by adoption in decentralized finance (DeFi) and NFTs, as well as layer-2 scaling solutions like Arbitrum and Optimism, which have improved network efficiency. However, achieving this milestone depends on increased retail participation and renewed interest from large holders ("whales").

The ongoing Ethereum Protocol Attackathon, offering $1.5M in rewards, highlights efforts to improve the network's security and resilience. Additionally, Ethereum's shift to a deflationary model due to its proof-of-stake mechanism and EIP-1559 burn dynamics continues to create favorable supply conditions.

Short-term predictions suggest ETH could range between $3,650 and $4,350 by the end of December 2024. Analysts are optimistic about its long-term outlook, with potential highs of $7,850 in 2024 and up to $26,740 by 2030 under favorable conditions.