I'm hoping there is not a confusion about what a digital level shifter does. If a 5v logic signal is sent from a sensor, the level shifter will convert it to 3.3v to send as a logic HIGH to a microcontroller running at 3.3v and requiring max 3.3v input. A zero volt signal will remain zero volt. Any signal in between zero and 5 Volts will require a check of the datasheet to see whether the level shifter output will be 0V or 3.3v. It will never be anything in between (except for a few hundredths of a microsecond).
alternatively, a level shifter can work in reverse or both - converting a 3.3v logic signal to 5v. Again, no levels in between 0 and 5v will be output.