same here yesterday but i dont have Wordfence Security.
I think its a problem between avada and wordpress, because the slightest change like favicon or site name or change logo can cause 503. Only works with woocommerce deactivated. I used my backup 50 times today, site works good if i dont change anything :)) but i cant use that old version.
sadly my avada support has expired and i will search web before giving them 50$ to renew it. Keep me in touch please.