In old astrology, a planet was said to be in its “exaltation” when it was in that sign of the zodiac in which it was supposed to exercise its strongest influence. Thus the exaltation of Venus is in Pisces, and her “dejection” in Virgo.
“And thus, God wot, Mercʹryʹ is desolateʹ
In Pisces, wher Venusʹ is exaltateʹ.”
In chemistry, the refining or subtilising of bodies, or of their qualities, virtues, or strength.