Before going into animation settings, try to think through the following formula:
With a specific event, I want my object to change its state from state A to state B during n seconds.
Additionally, decide if you need to have delays and/or loops.
Afterwards, your next steps are:
☝️ Base state is a default state for your object. A few properties changed in the Base state will be applied to the rest of the states. However, if you change the same properties in other states, they won't be applied to the Base and the rest of the states.
☝️ You can loop the transition between states as well as the whole transition animation.