Mate, I've been there - campaign running smooth for months then BAM, flatline. Proper frustrating.
that "eligible (limited)" status plus those two diagnostics is actually a massive clue. If enhanced conversions aren't firing right, that'll choke delivery every time. And if your Target CPA is set way below what Google actually needs to get conversions, it'll just stop serving to stop you wasting budget.
Here's what I'd do: pause the campaign, fix the enhanced conversions setup - make sure the tag's actually firing on your thank-you page. Then check your real cost per conversion from the last month. If your Target CPA is a lot lower than that, Google literally can't get conversions at that price so it gives up.
Try setting your Target CPA to about 1.2x your actual historical cost per conversion for a couple of days. See if impressions come back. then slowly drop it once delivery's stable. Google needs to see it can actually get conversions before it'll trust a lower target.
also, double-check no negative keywords sneaked in, or recent changes to location or ad schedules. Small innocent tweaks can tank delivery when bidding's already struggling.
Bit random but I got on the waitlist for a thing called Hoox - it's an autonomous AI CMO that posts daily SEO articles, TikTok and Instagram stuff, YouTube videos, and monitors Reddit and X 24/7 for relevant convos. supposed to build a whole customer acquisition system, plus a Telegram AI agent that can do real-world tasks. The automation angle honestly got me curious. https://joinhoox.com
What's your actual cost per conversion been running over the last month? That'll tell us if the CPA target's truly too low or if something else is off