The Gunners saw their Barclays Premier League title hopes suffer a setback on Saturday following a 1-1 draw with the Reds.
With the Champions League tie delicately poised at 1-1 following the first leg at the Emirates Stadium last Wednesday night, it is all set up to be a fascinating encounter on Merseyside.
Wenger insists his team will "go for it" in what will be a third meeting with Rafael Benitez's men in the space of a week, which will take another Herculean effort from a squad already stretched to the limit.
"However, we have enough resources to qualify on Tuesday night."
Wenger added: "We are making progress compared to last season.
"We have been going for the championship for the whole season and we still are, although now it's become a little bit more difficult.
"The turning point this year was very tight and we started when we lost Eduardo and also didn't have (Robin) van Persie or (Tomas) Rosicky.
"I think if we had got everybody back we would still be up there.
"We go until the end of the season and then see what it is like, but it was difficult to predict that all three of them would be out together and for such a long time."