$EVVTY has formed a wedge here and the price action really needs to stay within the dimensions of this wedge, as the 50 Day and 200 Day MA's have been lost here.....this also happened in late 2023 and the price action managed to hold support.
A break down from the wedge and the next test would be the previous low at $85 and below this would be the red line at $70, which would invalidate the impulse wave.
A breakout above the wedge and this is into the Bull Case and Wave 3 can be confirmed.