A 2-0 defeat at Ibrox on Thursday night meant Rangers’ run in the Europa League came to an end in the last 16 stage like last season.
The second leg in Glasgow became more chaotic in the second half as Rangers lost two men to sending offs and Slavia Prague eventually overpowered them to make it to the quarter-finals of the competition.
Lovenkrands conceded that over the two legs Rangers did not play well enough or touch the levels they have shown this season.
But he insisted that Slavia Prague need to be given some credit for not allowing Rangers to play their game through the tempo and intensity they brought to the pitch in both legs.
Lovenkrands said on BBC Sportsound: “I think you have to give Slavia Prague a lot of credit there.
“They made Rangers play bad.
“Rangers’ performance over the two legs was not up to scratch but that’s down to the way Slavia Prague were playing.
“The way they were organising, the tempo they played at, the intensity they played at, the hard work they put into the game made it difficult for Rangers.
“It wasn’t only about Rangers didn’t hit the heights they were doing before but that was also for me, the credit of Slavia Prague and how well they were up against Rangers.”
Rangers will now prepare for the Old Firm derby when they will travel to Parkhead to take on Celtic on Sunday.