Peach is a unique strategy character with a variety of moves and techniques that make her popular amongst tournament players. One thing that distinguishes Peach from any other character in the game is her unique ability to float and move through the air for a number of seconds. This float move is utilized often to perform air attacks (some of which are powerful like her crown attack) while floating above ground so that the player can confuse the opponent and make a quick recovery when landing. The float ability can also be used to recover from being knocked off of platforms. Despite having this float advantage, Peach lacks in offense and is one of the lighter fighters in the game.
While L-canceling is usually best to shorten the delay after performing an air attack, peach has the ability to Float Cancel her aerial’s. Float canceling is a pretty simple technique, basically do an attack while floating, when you hit the ground after the attack you will have NO recovery time. See, simple.
Hold down any time during a jump or double jump (holding or) to automatically start floating at that altitude, you can even hold down on the ground and press or to float just above the ground.
Using down and A at the beginning will most likely get you 8 extremely powerful hits and if opponent is in mid-air at that time use a charge up and attack repeatedly will give you the life advantage.