This post gives you a snippet to get the URL path of an entity reference in Twig
{% for trend in paragraph.field_trend_reference %}
{% if trend.entity.id %}
<a href="{{ path('entity.node.canonical', {'node': trend.entity.id}) }}" target="_blank" class="trends-item" style="background-image:url('{{file_url(trend.entity.field_overview_image_small.0.entity.uri.value)}}');background-size:cover;background-repeat:no-repeat;">
<h4>{{ trend.entity.label }}</h4>
</a>
{% endif %}
{% endfor %}