With Ipswich Town, in 18th place, losing to Crystal Palace earlier in the day, Wolves had an opportunity to extend the gap between themselves and the relegation zone. Had their finishing been more clinical, they could have even claimed a victory.
The pre-match fireworks lit up the sky, but it took a while for the action on the pitch to live up to the spectacle. However, a goal from Everton's Jack Harrison in the 33rd minute ignited the match.
Everton manager David Moyes had called for more goals from Harrison before the game, and the winger responded with a deflected shot that sailed past Jose Sa in the Wolves goal, giving the visitors the lead.
Although Wolves have struggled at home, losing 10 of their last 15 league matches at Molineux, they did not let their heads drop. Just seven minutes later, they were back on level terms when Munetsi scored his first goal for the club, converting a perfectly-placed pass from Jean Ricner-Bellegarde.
With renewed confidence, Wolves pushed for a winner in the second half, and substitute Pablo Sarabia nearly found it with a free kick that narrowly missed the top corner and went into the side netting in the 51st minute.
Wolves kept the pressure on, and striker Joergen Strand Larsen came close from a tight angle. They then had a frantic goal-mouth scramble, but somehow failed to score.
While pushing forward, Wolves left space at the back, and Everton nearly capitalized when Beto broke forward and fired a shot towards goal, but Sa was quick to get down to his left and make the save.
Despite dominating possession, Wolves couldn't find a winner, with the draw bringing their total points to 23, leaving them six points clear of Ipswich and Leicester, who are 19th.
Wolves manager Vitor Pereira reflected positively on his team's performance. "I like to see a team playing as a team - running together in attack and defence, and with confidence in themselves. We showed all of that today," he said.
"However, I'm not happy with the result - it's only one point, but one point can be important."
Everton manager David Moyes, meanwhile, praised his team's resilience as they extended their unbeaten league run to eight matches. "I didn't like a lot of what I saw, but I liked our resilience and togetherness to stay in the game. We didn't have much of the ball in the second half, but we limited their clear chances and created one or two ourselves," Moyes commented.