Adobe account deactivation

Adobe likely detected some suspicious account activity.
1) Unusual sales or refunds.
2) Too much similar content.

3) Brand names in titles, keywords or descriptions.
4) Complaints from customers / 'Take Down Notice' requests from 3rd parties.
https://helpx.adobe.com/stock/contributor/help/submission-guidelines.html

This matter is between you and Adobe Stock, not fellow Contributors in this user-to-user community.

Be patient. It could take several weeks or months for a full investigation. If requested, provide additional information directly to Adobe Stock. In the meantime, work on other projects. Submit content to other stock services.

Good luck.

It has only been a week. Some Contributors have reported waiting months for the account investigation to be completed.

"Still, there has been no reply from their side."

If your account has been suspended, there is nothing that this community of peers can do for you. You will need to contact Adobe contributor support via the link at “Contact us”. Adobe will answer via e-mail, so watch your spam folder. The answer may take some time, depending on the workload of contributor support and the complexity of the investigation. So be patient and do not spam the contributor support.

All you can do is wait for a response. Check your spam folders to be sure you don't miss it. Don't spam the Stock Contributor team with multiple, repeated requests for updates.

"Can you guide me on what to do next."

Nothing. You just need to wait while Adobe investigates. It can take days or weeks before you year back from them.