I'm new to Fiverr. I've been promoted to Level 1 within one and half months after getting 1st order. After that, I realized that my gig impression was going downward. So I have researched about that and found some theories.
1. De-ranking gig is normal even if it has all 5-star ratings and good feedback. Because if the 50 Gig on the 1st page stays for eternity only they can sell, no other sellers can sell. So ranking and de-ranking are very normal for Fiverr.
2. De-ranking after getting Leveled like Level 1, 2. It's also very normal on Fiverr. Many sellers think that because you entered the next level, the Algorithm re-calculates your gig and acts according to it with that level of sellers.
3. Private or Secret Feedback- The most important thing to rank your gig on Fiverr. And you can't talk about it with your buyer, it will go against TOS. Even though the buyer gave you 5-star ratings it doesn't mean he or she meant it. Many people doesn't want to hurt your feelings. So Fiverr asks buyer privately about your gig and their satisfaction. And their feedback may rank or de-ranked your gig and profile. Most of the sellers think that It's more important than 5-star ratings.
4. Conversion rate: If your gig is ranked you will have messages from buyers. Fiverr will calculate how many contacts you converted to sales. If it's below average you will be demoted.
5. Make Changes to your Gig: Any changes to your gig may de-ranked your gig (I've doubt about that). Most of the successful sellers suggest making no changes in Ranked Gig.
Solutions: If it's a normal re-arrange of a gig, it will be re-ranked again after some time. If it's because of public or private feedback, I think you are kind of in trouble. You have to sell with good reviews when there are no impressions. How? Well from previous buyers. Eventually, Fiverr will give you another chance but when, may in 1 month or 6 months. No one knows for sure.
Experienced sellers and experts feel free to criticize, give suggestions, and add points. Give your thoughts.