The England international was earlier this season told by boss Brendan Rodgers he could leave in the current transfer window.
Downing told Liverpool's official website when asked if he was now performing at his highest level since joining the club: "I'd probably say so."
"The first season was patchy, I was in and out. But this year, since I came back into the side, it's been consistently quite good."
"As I said, it's probably because the team is playing quite well that it's all come together."