There are three critical parts actually, Critical Temperature, Critical Current and Critical Magnetic field.
The Meissner effect works due the lack of resistance in a superconductor. If you go back to Motors and Generators, you should remember that the magnetic field produced can never fully oppose the motion that created it due to resistance in the conductor. The resistance in the conductor means that the magnitude of the magnetic field will NOT be equal to that of the one that produced it. Because there is no resistance in a superconductor, the magnetic field produced by it due to current flow will always be EXACTLY equal to that of the field that produced it. It’s not actually levitating so much as hovering. As soon as the magnet starts to move towards the superconductor, it induces a current that exactly opposes the motion of the magnet, then the magnet stops dropping, the induced current disappears, then it tries to drop again etc…
Hope that helps.