For a better overview, each folder can temporarily be made the uppermost folder in the hierarchy. This will cause the folder to be displayed at the very top of the view.
The Hoist Selection menu command does not change the base folder in the CMS. The currently selected folder is merely displayed at the topmost position.
To achieve this, first select the folder to be displayed at the top. Then select the View > Hoist Selection menu command.
Since the complete path of the currently selected file is displayed below the toolbar and each folder in it is linked, you can easily switch to one of the folders in the path.