As predicted in my last $EVAA analysis (quoted), it's time for some correction. I'm 70% out of this trade, closed very well above $10 and $12.

Now, what we have is both an ELLIOT Wave regular retracement and also a variant of the #wyckoff distribution pattern (highlighted on the chart).

All this is backed by already clear classical bearish chart patterns that have broken down: a RISING WEDGE (targeting $5.55, a horizontal SUPPORT level — close to my entry) and a HEAD & SHOULDERS (targeting $4.33, also a key horizontal SUPPORT level).

The strategies for me:

1. BUY THOSE DIPS between $4.33 and $5.55. There will be a significant rebound off that zone, 90% guaranteed.

2. A more risky strategy — enter now at $8.20, at SUPPORT, oversold RSI, and hope for a projected DEAD CAT bounce toward $10.2 - $10.9.

The 2 pattern BREAKDOWNS that are active, the WYCKOFF distribution... not looking good short-term. I will exit my remaining 30% of the SPOT slightly above $10 if this happens, and wait for a deeper pullback before a re-entry. Strategy number 1 it is, not advice, never ever.

$TON has been solid, though, so #EVAA could get another little rally, potentially, we will see. DOWNTREND and stagnating TVL — not BULLISH right now.

👽💙