Enner Valencia's brace saw Ecuador to a 2-1 win over Honduras in Curitiba, leaving Suarez's men bottom of Group E but still alive.
A win over Switzerland (three points, -2 goal difference) and France (six, +6) beating Ecuador (three, even) could see Honduras (0, -4) advance.
And while his team are still alive in Brazil, Suarez is maintaining hope of unlikely progression.
"We know it'll be tough to reach the next round, but it’d be even worse to have been knocked out already," Suarez said.
"We need to find a way to improve in order to win and while there’s hope, we won’t give up without a fight."
Honduras went ahead through Carlo Costly in the 31st minute, but Valencia responded almost immediately before heading in a second-half winner.
Suarez was content with his team and said it was a performance they could build on.
"It was a very hard-fought match. I think we had a bit of difficulty keeping our nerves in check given what was at stake in the game, but I’m satisfied with my team," he said.
"We played well but they played a bit better. They had more of the ball, took more shots and got the goals.
"It was an improved performance after our first match and although it wasn’t quite enough we can build on it for our next game."
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