It's called magnetic levitation or MAGLEV...
Good job in the Nice machining of the aluminum model.
It's neat but it's really only an electromagnet in the base repelling a ferric static magnet in the craft.
It's called magnetic levitation.
It cannot change it's height because the generated magnetic field in the base which is actually supporting it diminishes with distance.
Any further away and the magnetic field loses it's intensity and would no longer be capable of supporting the craft.
Now what would be impressive would be if it could levitate without the use of it's powered base.
The real UFOS are using rapidly spinning magnetic fields in the craft themselves , which repel the earth's magnetic field....in order to levitate AND
to propel themselves.
Cool experimental model though.
Read up on how maglev supports and propels ...
en.wikipedia.org...