You can't crouch cancel in the sense that it removes histun like it does for most moves. But you can crouch cancel to reduce the knockback to 2/3ds. There are two components to "crouch canceling":
Actually crouching when you get hit reduces the knockback/hitstun by 2/3ds.
and ASDIing down to land on the ground as the move picks you up off of it cancels the hitstun upon landing, and you experience only empty landing lag (4-6 frames depending on character).
However, moves that don't pick you up off the ground, you can't ASDI back down to it because you are already there, so you can't straight up cancel the hitstun. You can, however, be already crouching to reduce the knockback. But this is where you character kinda stays on his feet but bends over harshly (call crumple state) to show that he got hit downward. There is no way to avoid this once the hit happens.
If the meteor hits you hard enough to pick you up off the ground, then you can ASDI down into the ground. But at this strength, the meteor will also knock you down, so you will have to tech it. Most meteors don't hit hard enough at low percent for this to work, sans ganons, so it's best to just avoid getting hit at all. But if you want to know when you can tech them, it would be a range of percents ranging from when the move knocks you down to when it's too strong to ASDI down to the ground the first frame. And of course, you have to be holding down as you get hit and have tech input buffered.
