Fifth-placed Arsenal can "recover" and secure a top-four finish in the Premier League despite losing their past two matches, says Gunners boss Unai Emery.
Goals from Ruben Neves, Matt Doherty and Diogo Jota helped Wolves to a 3-1 win over Arsenal, who scored a late consolation via Sokratis' header.
It was their second loss in four days after losing 3-2 to Crystal Palace.
"We lost from our hands the opportunity for fourth, but we can also recover this opportunity," said the Spaniard.
With three league games remaining, Arsenal are four points behind north London rivals Tottenham in third and have one point fewer than Chelsea in fourth.
Emery's team are also in the semi-finals of the Europa League and will qualify for the Champions League if they win that tournament.
However if they do not, they will have to finish in the top four in the Premier League to secure a return to the Champions League after a two-year absence.
|Race for the Premier League top four
|Arsenal - 5th (66 pts, GD +23)
||Chelsea - 4th (67 pts, GD +21)
||Man Utd - 6th (64 pts, GD +13)
||Tottenham - 3rd (70 pts, GD +30)
|29 April Leicester (A)
||28 April Man Utd (A)
||28 April Chelsea (H)
||27 April West Ham (H)
|4 May Brighton (H)
||4 May Watford (H)
||5 May Huddersfield (A)
||6 May Bournemouth (A)
|12 May Burnley (A)
||12 May Leicester (A)
||12 May Cardiff (H)
||12 May Everton (H)
"Top four is the target, a difficult target," added Emery.
"We have lost in the last two matches, to Crystal Palace and here, but the last three matches we play in the Premier League we have opportunities.
"Generally we are disappointed but we need to look at all the season. We need to prepare as best as possible for Leicester. Again it is very difficult but hopefully we can take something."
After playing at Leicester on 29 April, Arsenal are at home against Brighton on 4 May and end their season at Burnley.