Following their 1-0 defeat by Watford on Saturday, the Swans are two points adrift of safety in 18th place.
Paul Clement's side have lost five of their last six league games and are without a win since coming from behind to beat Burnley 3-2 in March.
"It is not over yet and we've got a lot to play for," Olsson said.
"We can still pick up a few points if you look at the fixtures.
"It is not over yet and we've got a lot to play for."
Despite an upturn in form following the arrival of Paul Clement as head coach at the turn of the year, Swansea have taken just one point from six games to slip back into the relegation zone.
With a lack of form on the pitch and games running out, Olsson denied that the team was suffering from low morale and said they can push on to beat Stoke City at home in their next league game.
"In training it's been good. Everyone likes each other and works hard. If no one is working hard there is always someone to tell us to step it up," he said.
"We focus and the morale is good.
"Hopefully the fans will be behind us so we've got to charge the batteries and give 100%."
April
22nd: STOKE CITY (H); 30th: Man Utd (A)
May
6th: EVERTON (H); May 13th: Sunderland (A); May 21st: WEST BROM (H)
Swansea City defender Martin Olsson says they can still pick enough points from their final five Premier League games to avoid relegation.