Liverpool on Saturday were beaten 2-1 by Leeds, their successive loss in the Premier League to a struggling side after going down 1-0 at Nottingham Forest a week earlier.
That left Jurgen Klopp's men, who have lost four, won four and drawn four league games this term, ninth in the table, eight points outside the Champions League places. After hosting Napoli in the Champions League on Tuesday, they are next in league action at third-placed Tottenham on Sunday.
Alexander-Arnold told liverpoolfc.com: "I'd say we all believe in ourselves, we believe in the way we play, the squad and what we can achieve.
"But I think when you do get setbacks, it can potentially make you second-guess yourself and question things.
"Clearly as a team something's not going right, it's not going as well as we want it to go. That's something for everyone to think about, for everyone to address and make sure we put it right, especially next week against Spurs, top-four rivals.
"We kind of need to go there and get some points if we've got any chance of reaching our aims and aspirations for the season."
The England right-back, who described what was Liverpool's first home league defeat since March 2021 as "difficult to take", added: "I think we are not in the greatest run of form - I think a lot of players would say that about themselves and as a team in general.
"But we're still creating opportunities to score and win games. We just haven't been able to take them, especially (in the) last two Premier League games.
"I think it's important for us to regroup, assess what's going wrong. I think right now, it's kind of, 'pick up as many points as you can now going into this break (for the World Cup, which starts on November 20).'
"And potentially this break will come at a decent time for us to reset and be able to get our heads straight to go into the second half of the season."
Additional reporting by Press Association.