1) to loosen, slacken, relax
2) to let down from a higher place to a lower
Part of Speech: verb
From the base of G5490; to lower (as into a void): - let down, strike.
These two sites give similar information, with the definition from several dictionaries and statistics on the use of the word.
Perseus Digital Library
University of Chicago's Logion lexicon
Thayer's dictionary plus other information.
From this site's dictionary (in Italian)
Click on the first column to search for that word as a form of the root χαλάω; click on the second column to search for that grammatical form of the root χαλάω; click on the third column to search for that word and grammatical form; click on the total to search for the root χαλάω.