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Kolo Toure believes Liverpool must make winning the Europa League their priority for the remainder of the season.
Liverpool are currently nine points off fourth-placed Manchester City in the Premier League table but they could reduce that deficit when the two sides meet on Wednesday night.
While a top four place looks to be beyond them, they could still qualify for next season's Champions League if they win the Europa League and Toure believes victory in the competition would be a big achievement for the club.
"Winning the Europa League can save the season and the Premier League is not done yet," Toure said.
"Of course we have plenty of games coming. We have another Premier League game which is very important. We need to digest this loss and then focus for the game because it will be tough.
"We can get three points against City. The final showed both sides can win."
Liverpool missed out on the League Cup after losing 3-1 in a penalty shoot-out to City at Wembley on Sunday.
The Reds equalised late on to send the game into extra time before Willy Caballero proved the hero for City in the penalty shoot-out.
"It was a bad day and we all feel down because we could have won," he said. "To lose on penalties is very harsh. City have experience and calmness. Their goalkeeper did amazingly for them.
"When you come back like that, you feel as if you have the chance to win it. We had a few chances, they had a few chances as well.
"They have been in that kind of situation and you only learn by losing those sort of games. You have to learn to lose sometimes before you win. We learn as a team together."