I've been experiencing partial delisting on my own website over the last 3 months. Google Search Console [1] shows they now exclude 25% of my website from the index. Search Console lists those pages as "Crawled - currently not indexed".
Mine is also an old site (nearly 20 years old), but it already used CSS & XHTML, and I'd been updating it to HTML 5, mobile friendly & responsive design & implemented HTTPS. I hadn't been adding new pages / content, though.
When did your Google traffic start declining? My Google traffic started taking a hit around March 9, and there was apparently a "Core Algorithm Update" on March 7:
https://www.seroundtable.com/google-confirms-core-update-253...