The sphere is a plastic sphere and has 2 disc magnets on either end, and below and above the sphere is a ring array of magnets of other magnets stuck together with a hole in the middle. North pole facing sphere, and disc magnet inside sphere North pole facing array, so both are repelling.

The idea is that it should "lock" into the hole, as that will be the weakest area, so it cant drift over the magnet ring as itll be repelled back towards the hole and if it gets too close vertically itll be repelled away still.

Supported on both from above and below so it cannot be flipped etc.

Would this work?