The Clarets have enjoyed an encouraging start to life under Sean Dyche but remain marooned within the second tier's congested mid-table pack.
However, Sunday's first-half domination of local rivals Blackburn - where Wallace was to the fore on the right wing - before claiming a dramatic late 1-1 draw - was the latest demonstration of growing confidence among the Clarets squad.
"We weren't surprised with our performance," Wallace told the Lancashire Telegraph. "We have been playing well, it's just a case of doing it for the 90 minutes.
"We haven't had a game where we've dominated the whole time, it's just been spells, but you're going to get that.
"I think the main thing for us now is to go through games when we're on top, score goals, and then defend well, which we have been doing recently.
"Hopefully we can keep that up for the rest of the season. If we keep playing the way we are we can get on a good run of wins and get right up there."