The 24-year-old struck four minutes from time in the League Cup fourth-round tie to instigate a late Reds comeback, which culminated in Lovren heading home in the dying seconds to secure a 2-1 win for his side.
It was just Balotelli's second strike for Liverpool since making a £16m move from AC Milan in the summer, although his Anfield teammate believes that the goals will now flow.
"I think it's a relief for everyone but I was sure that Mario would score today or tomorrow so it was just a [matter of] time," the Croatia international told Sky Sports News.
"Everyone has confidence in Mario, he's working very hard in training, so it will come with time. When you score a goal all the heavy weight that was on your shoulders [is lifted] - and I think now his time will come."
Balotelli scored 19 goals in all competitions for Milan last season.