Colors aren't working. It is very crowded with colors. The pink you put as part of the handle is completely unneeded. Background is still too shiny and highlights in overall are just too strong, rather use solid black or darker variation of colors than ones on sword. Avoid use of solid white. There is still no lightsource, at least not a logical one. Where is the light coming from? In this state it appears light is coming from a flashlight someone pointed at the area where blade meets handle. And then we have other source striking at bottom of handle but somehow not affecting golden part. That won't work. Please fix it. I'd recommend you to chose 1 source of light as we still don't wants icon to be too bright. Try to use that golden/yellow color for the entire handle instead of blue variations. Shape still appears quite common, but that isn't major problem. Shape of handle could be less wide.
Among the good things about it is that you made improvements when it comes to details, and blade is shaded well, but apply that to the rest as well. It looks less flat than last time as well. You are making a progress which is a good thing. Please try to come up with some edits, until then I'll place it in awaiting update section.