The Sevilla left-back has become a serious target for both Premier League contenders but the Reds must make sure they do not lose out on another signing to their rivals after the Willian and Mohamed Salah sagas.
The highly-rated 21-year-old has risen to prominence in La Liga with Sevilla this season and his impressive performances have now firmly turned heads.
Yet while Chelsea may have shown thus far the most serious interest in the Spain international, Liverpool are the club who could most do with Moreno's services.
While John Flanagan has filled in and done an admirable job at left-back for Brendan Rodgers, moving beyond this season neither he or Jose Enrique are the long-term answers for a position that has proved problematic since the days of John Arne Riise.
Enrique would serve as a good back-up option for next season but not as a first-team starter. At 28 he may very well be coming into his peak form but after a succession of injuries that is far from certain. Moreover the former Newcastle player would not appear to have all the necessary ingredients to be a top left-back that Liverpool require if they are to maintain their position towards the upper echelons of the Premier League coupled with Champions League football.
Although he is blessed with fine pace the feeling remains Enrique does not possess the footballing intelligence to be an effective cog in Rodgers' system. Often he found himself running down blind alleys much to the manager's frustration.
So if Moreno, a player in stark contrast, were to become available it would make sense for Liverpool to make a move, rather than Chelsea.
The Blues already have Cesar Azpilicueta, normally a right-back, who has appeared at left-back regularly for Jose Mourinho this season and done quite a fantastic job. Why can't he stay in that position beyond this season? If not, then surely Southampton's Luke Shaw would make more sense, if not financially given how much more expensive he would cost, since he is a Chelsea fan and England's future number one left-back for years to come.
Liverpool will be able to offer Champions League football to Moreno and perhaps just as importantly an environment to develop his own personal performances under the guidance of Rodgers. That is not to say Mourinho could not do the same, more that there is greater certainty the former Swansea manager will be at Liverpool for the long-term whereas the 'Special One' could move elsewhere(Manchester United even).
If Liverpool manage to capture Moreno's signature come the summer than they will be giving themselves a defensive boost that could see them ship significantly less goals next season. For that reason alone, even a couple of extra million to seal the deal would prove well worth it.