Balotelli came under fire for missing several good chances to end an eight-game barren spell in front of goal in Saturday's 0-0 draw with Hull City.
The Italy international has struck just once in his 11 appearances for the Reds following a £16m move from AC Milan, but Pascoe says that the 24-year-old has the "hunger" to turn things around.
"He works hard, he is a great talent and every day on the training pitch you can see he wants to do more," Brendan Rodgers's assistant told Sky Sports News.
"At the end he is always asking to do more things. Everything will be alright with Mario because you know his hunger is there and he wants to win.
"After every training session he wants to do shooting, passing - he wants to do everything, to work on his game. We as coaches will help him that way."