Winless in the top flight since September's victory over Manchester United, Leicester have taken just two points from their last 13 league outings.
That dismal run has left Leicester five points adrift at the bottom having been beaten 2-1 by Tottenham on Friday despite creating plenty of goalscoring opportunities.
Pearson has no doubt that his side are facing a battle against the odds, but urged his players to avoid negative thoughts.
"There is still a long way to go and one of the dangers is people in our position, internally, start listening too much to how everyone else sees the situation," he said.
"I am not sticking my head in the sand or trying to paint the picture that it is a lot more positive than it is. We are in trouble at the moment.
"The players have had a number of performances of late where we have played pretty well and not had the rewards for it.
"It is going to be a test of their resolve as much as anything, in terms of their own belief.
"But the performances would suggest that we have the capability of turning it around."
