If you received the email letting you know that you have reached your quota limit, it  means that your trackers have consumed the amount of data (posts) that was allocated to your account . The number of posts allocated depends on your plan.
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To be more specific;
Individual 3,000 Posts / Month

Team 10,000 Posts / Month

Pro 25,000 Posts / Month
Advanced 50,000 Posts / Month

Enterprise Plan - Post limit varies. Please contact [email protected] for assistance.

Once you have reached your posts limit, it means that all of your trackers will automatically pause and stop collecting new posts. In order for your trackers to continue collecting real-time data, you will have to select the '+ Get More' button located on your Hashtag & Keyword Tracking page to purchase more data. 

Alternatively, you can choose to wait until your next billing cycle for your quota to reset. 

Deleting a tracker will NOT restore your consumed data. Once a tracker is deleted, we will not be able to restore the collected data. So once it's deleted, all that collected data is gone forever. 😞

Turning a tracker off will archive the tracker and all its data so you will still be able to access it but it will not consume any data. You can turn off a tracker by sliding the toggle of the tracker to the left:

Since we track data in real-time, the data that you have already consumed will not be 'given back' when a tracker is deleted. In other terms, deleting a hashtag tracker will not restore your posts limit as the posts have been consumed.