The sixth-placed Reds are seven points adrift of Chelsea, current occupiers of fourth spot and with a match in hand.
There are 27 points available to Brendan Rodgers' side in the remainder of the campaign, which theoretically allows them to reach 72 points.
With the requirement for attaining fourth place having reduced over the last couple of seasons - Tottenham finished with 69 last year compared to the 76 Liverpool required in 2007-08 - there still remains an outside chance.
And England captain Gerrard said: "Liverpool don't belong in seventh, eighth or ninth in the table.
"We want to push for the European places year after year.
"Hopefully it's not too late but we will need to produce the perfect finish to sneak in the back door.
"The top five places are the target. Let's see what happens in other big games that are not in our control.
"Hopefully the teams above us will slip up. All we can control is our performances and our consistency and hopefully we will finish strong."
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