i got a 1998 S600 rear hydraulic issues

[calimercedes]

hello guys.... i just boutght this car . its got 72.000 miles.. my rear end seems to be sitting a bit low for some reason. and i have a bumpy rear suspension. i know the bumpy reason might be the air hydraulic cells , but would that cause it for the car to sit low in the back?? and im also having my light on the dash come on once in a while.. the light that has a shock level on it.. isnt the back part of this car suppose to be higher when you start it up? like the old wagons? please advise. thanks.