"Way Down" is a song recorded by Elvis Presley. Recorded in October 1976, it was his last single released before his death on August 16, 1977. The song was written by Layng Martine Jr. and recorded by Presley at his home studio in Graceland on 29 October 1976.

Moody Blue is the twenty-fourth and final studio album by American singer and musician Elvis Presley, released in June 1977 by RCA Records, about two months before his death. The album was a mixture of live and studio work and included the four tracks from Presley's final studio recording sessions in October 1976 and two tracks left over from the previous Graceland session in February 1976. "Moody Blue" was a previously published hit song recorded at the earlier Graceland session and held over for this album. Also recorded at the February session was "She Thinks I Still Care". "Way Down" became a hit after Presley's death less than one month after this album's release. The album was certified Gold and Platinum on September 12, 1977, and 2× Platinum on March 27, 1992, by the RIAA.