Given the above, what needs to be done is figuring out what kind of traffic exactly vanished, i.e. what referrer is no longer able to send visitors.
thats the main thing i would too like to ask for and Have u checked the visitors stats in detail ?
and sometimes there are such chances to drop few rankings up and down or even notice some drop in traffic. Dont worry just keep on building quality backlinks and if rankings drop more and do not get stable then its like a point to be worried.
Fluctuation is the part of rankings and it happens with every website but it give no harm if you develop helpful and relevant backlinks for your website.