Chainlink (LINK) has fallen below $17, trading around $17.70, as it breaks key exponential moving averages (EMAs) due to sustained selling pressure. The cryptocurrency faces net outflows of $14 million, indicating weak demand and heightened price volatility. Analysts caution that failing to maintain the $17 support level could lead to a drop towards $15, while a recovery would require LINK to reclaim the $19–$20 range. Despite the price decline, Chainlink gained attention at the Federal Reserve's payments innovation conference on October 21, where co-founder Sergey Nazarov participated as a panelist. The company highlighted its infrastructure resilience following a recent cloud outage, ensuring that its oracle services remained fully operational.