The Anfield legend believes United's fixtures could help his old side in the race for the Champions League.
The Reds were beaten 2-1 by United last weekend, courtesy of two goals from Juan Mata, to leave Louis Van Gaal’s side five points clear in the race for fourth.
However, while Liverpool still have to take on Chelsea and Arsenal away from home in their remaining fixtures, Manchester United are still to take on Manchester City, Chelsea and Arsenal, while they also face difficult away trips to the likes of Everton and Crystal Palace.
As far as Fowler is concerned, it is that run of fixtures that may allow his old side to pip United to fourth, regardless of their current form.
"Manchester United are playing well at the minute but their run of games is a little bit more difficult,” said Fowler.
“So they (Liverpool) definitely still can, but it will be more difficult than it was a week or two weeks ago."
The former forward does however admit that Liverpool have made it hard for themselves after last weekend’s result.
The loss to United was Brendan Rodgers’ side's first since being beaten 3-0 by United earlier in the season, after which they went on a remarkable run of form to fly up the table and put themselves into the Champions League running.
Fowler though, insists Liverpool’s remaining fixtures are winnable despite having to travel away to both Arsenal and Chelsea.
“If you look at the run of games they've got, there are some tough ones there but a lot of them are winnable,” he added.
"They've made it more difficult for themselves with the game last week but potentially they still can [finish in the top four]."