Their FA Cup semi-final defeat to their Merseyside rivals could take some getting over for David Moyes’ men.
At half-time in their semi-final with Liverpool, Everton fans could have been forgiven for dreaming of FA Cup glory.
1-0 up through Nikica Jelavic’s goal, Liverpool had offered little in the way of threat before Sylvain Distin’s mistake which let Luis Suarez for the equaliser.
After that the Toffees attacking limitations were exposed, barely offering a threat of their own in the final half hour of the match.
A deflating anti-climax? You bet.
Particularly for David Moyes, who still seeks his first piece of silverware in more than a decade as Everton boss, while Kenny Dalglish goes onto hunt for his second trophy of the season when Liverpool take on Chelsea later this month.
So what now for Everton? Is it case of season-over? Almost.
While they may have lost the battle in the FA Cup, they can still get one over on rivals Liverpool by finishing above them in the Premier League.
Everton currently sit in seventh on 47 points, Liverpool in 8th on 46, with five games to play each.
It is hard to say judging by their entirely unpredictable form whether FA Cup semi-final success will inspire the Reds for their remaining games or continue to be a distraction from their league efforts.
In any case, Everton hold the – narrow – advantage, and should concentrate on their own games, although the prospect of a trip to Old Trafford next weekend will not be one they relish.
But it is longer term that Everton need to take stock after their defeat.
Can they hang onto David Moyes? Harry Redknapp’s impending Spurs departure has a few linking him with taking the reigns at White Hart Lane.
The challenge may appeal to him, if Everton can no longer convince him of their ambitions.
Everton are a club in dire need of investment, with Moyes being forced to manage on a shoestring budget through most of his time at Goodison Park.
If the board cannot convince him that this will change over the next five years, managerial life will remain tough, and making the Premier League’s top 10 will remain as challenging as ever.
Assuming he stays with Everton, Moyes will want to improve his squad for another challenge at silverware next season.
If only Landon Donovan were available for a permanent transfer, the American showed the Blues what they were missing through his brief stint at the club.
Everton need width, good attacking players who can deliver quality crosses with consistency to their forwards.
Jelavic has shown he is a striker who is capable of scoring on a regular basis, and Everton must decide whether to sign Stracqualursi as back-up on a permanent basis.
Tim Cahill is 32 and has had a disappointing season by his high standards and Moyes will have to look at replacing him sooner rather than later.
Until investment arrives, through new owners, or even the long-way-off plans for a new stadium, Everton will continue to punch above their weight, but struggle to break the top six, and have to continue to hope for fleeting cup glory.
Roll on next year’s FA Cup.
image: © Ben Sutherland
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