How to deal with reboot loop in evo 4g?

I have my Evo 4G with Cyanogen for 2 months now and this is the first issue I have faced with this. It is appeared pretty much out of nowhere. All of sudden my phone has gone into the reboot loop. The white background and words, HTC EVO 4G in black appear for few seconds. Then the screen goes blank and reboot loop starts again. I have tried to go into recovery to restore this from backup but when I get to boot screen and select the recovery, it just goes again into the reboot loop. Any idea guys what happened, and how can I fix it?

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