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Enzo Fernandez cancelled out Ryan Gravenberch's strike at a restless Anfield as Liverpool were held by a Chelsea side whose run of six consecutive Premier League defeats came to an end.
The result means Liverpool remain in fourth place, seven points clear of sixth-placed Bournemouth, while Chelsea stay ninth.
A point for Liverpool edged them closer to securing Champions League football for next season, but the Anfield crowd were unimpressed at times, with loud boos heard when head coach Arne Slot took off teenage winger Rio Ngumoha in the second half, and again at the final whistle.
Playmaker Florian Wirtz was absent with a stomach bug as Slot made three changes from the Liverpool side that lost at Manchester United last weekend, with Giorgi Mamardashvili, Milos Kerkez and Ngumoha all coming in. For Chelsea, interim boss Calum McFarlane made five changes following their defeat at home by Nottingham Forest.
Liverpool started strongly, with Gravenberch finishing in style with a curling shot high into the net from the edge of the penalty area after he was teed up by Ngumoha.
After gaining that early lead, Liverpool were guilty of letting Chelsea back into the game. The visitors grew in confidence as the first half went on, with Mamardashvili forced to make a save from Marc Cucurella.
With 10 minutes to go before half-time, the equaliser came when Fernandez's free-kick evaded everyone and ended up in the back of the net.
Fernandez nearly gave Chelsea the lead shortly after going level, and Chelsea thought they did have the lead after the break when Cole Palmer found the net, but the goal was disallowed as Cucurella was ruled offside in the build-up.
That decision woke up Liverpool and they looked to have scored when Curtis Jones headed in.
But that goal was also ruled out, with Cody Gakpo - who headed the ball across to Jones - having been in an offside position. A minute later, Liverpool's Dominik Szoboszlai forced Filip Jorgensen to make a good save.
Slot introduced striker Alexander Isak off the bench in the 67th minute but it was the decision to take off Ngumoha, who had been one of the few bright sparks for Liverpool, that led to fury from many supporters.
Neither side could find a winner. Liverpool went closest, with Szoboszlai hitting the post with a strike from distance before Virgil van Dijk rattled the crossbar with a header.
The booing at full-time from the Liverpool crowd told you exactly what the fans made of yet another disappointing display.
When they took the lead in the sixth minute, Chelsea were there for the taking, but this Liverpool side lack intensity and their xG (expected goals) score of 0.51 in the end was their lowest in a Premier League home game since March 2021.
Liverpool have now dropped nine points from winning positions in Premier League home games this season, their most at Anfield in a single campaign since 2015-16 (14).
Slot's decision to take off Ngumoha in the 67th minute will be debated and perhaps the Liverpool boss made it with the best interests of the 17-year-old in mind, but the truth is that his side lacked any major threat once the youngster went off.
And ultimately, this was another missed opportunity for Liverpool against a side who earned their first Premier League point in 66 days.
This was the upturn in performance Chelsea badly needed.
After a six-match losing run in the league, this felt like a small step in the right direction.
Fan protests are planned on Wembley Way before next weekend's FA Cup final against Manchester City, but at least Chelsea will not go into that game on the back of another defeat.
If the losing cycle had continued at Anfield, it would have meant Chelsea suffering seven consecutive league defeats for only the second time in their history, and for the first time for 74 years.
They would also have become the first team in English football history to lose seven matches heading into an FA Cup final.
It was crucial, therefore, to stem the bleeding in a bleak spell that has already cost former head coach Liam Rosenior his job.
Monday's 3-1 defeat by a second-string Nottingham Forest side was a dismal way for interim head coach Calum McFarlane to mark his first league match in charge.
McFarlane can, however, point to a number of positives. He earned his first victory of this second spell in charge in the FA Cup semi-final against Leeds at Wembley and, now at Anfield - albeit against another side struggling for form - his selection decisions were largely vindicated.
The return of centre-back Levi Colwill, making his first appearance for 10 months, coincided with Chelsea switching to a back three for just the third time this season.
Chelsea conceded from Livrpool's first shot of the match and briefly lost their way, but they recovered to equalise deservedly.
It was not a vintage performance, but it was an improvement and something to build on. The decision to focus attacks down the left through Cucurella paid dividends, Palmer showed signs of rediscovering form within the system, and it helped Chelsea manage an attacking injury crisis, with four wingers currently out.
Chelsea remain just about in the hunt for European football, though there is plenty of work to do in their remaining two Premier League matches.
More importantly, they now have something to cling to before the cup final, even if Pep Guardiola's Manchester City side remain strong favourites.
Liverpool travel to Aston Villa on Friday (20:00 BST) while Chelsea have the FA Cup final to look forward to on Saturday (15:00 BST) against Manchester City at Wembley. (BBC)