Defeat at Chelsea on Sunday left Jurgen Klopp's side heading into the final match of the season most likely needing victory over Brighton to secure a top four spot having squandered opportunities against West Brom and Stoke.
Victory for Antonio Conte's side, currently in fifth, at home to Huddersfield on Wednesday would see them draw level with Liverpool on 72 points, albeit with a vastly inferior goal difference.
It would mean the Reds would have to match Chelsea's result on Sunday at Newcastle in order to guarantee Champions League football next season - although they would have one last chance in the final against Real Madrid later this month.
A year ago they had to do the same in terms of Arsenal's result and responded with a 3-0 win at home to Middlesbrough.
"It's a similar (situation). We know what we can expect," Lovren told liverpoolfc.com.
"It will definitely be tough. Brighton showed in their previous game against Manchester United that they can win against big teams.
"But I'm confident we can do it. It's still in our hands. The next game will definitely be a tough game but I'm confident we can manage to win it."