The levitation results from something called "diamagnetism" [1]. Diagmagnetism induces a magnetic field that opposes the original field; in this case it pushes

The levitation results from something called "diamagnetism" [1]. Diagmagnetism induces a magnetic field that opposes the original field; in this case it pushes the magnet away from the sample material. All superconductors are strongly (perfectly, actually) diamagnetic, and its a classic cool demonstation of their properties. However, not all strongly diamagnetic things are superconductors. In fact, diagmagnetism is present in all materials, but it is usually swamped by other magnetic effects (ferromagnetism and paramagnetism). [1] https://en.wikipedia.org/wiki/Diamagnetism https://en.wikipedia.org/wiki/Diamagnetism