You may want to try Note Link System. Since this plugin hasn't been updated in a while, some of its features no longer work in the latest markdown editor (but still work in the legacy markdown editor, until it is completely phased out). That said, one feature that I expect to keep working is the referencing of paragraphs. You can assign any text an ID: (here I chose #asdf)
Link to it from any note, and finally see the backlinks to this specific text in the markdown preview:
It does not provide block translucence, though. Nevertheless, links can display a preview, so you can read the block without opening the link:
Apart from that, if you like Logseq's inline tags, check out the Inline Tag Navigator.