The Saddlers fell to their heaviest defeat of the season as they lost 5-1 at Coventry on Saturday, with their last success coming way back in late September.
The midlands side have slipped from sixth place in League One to 19th during that time, and veteran defender Holden is demanding they stop the rot now.
"It was a bad day all round," he told the club's official website, referring to the Ricoh Arena reverse. "We know that we've not performed as a group and we have to look at ourselves and work hard to pick ourselves up.
"The only thing we can do is come out fighting. We have to get our boots on, come out for the next game with a smile on our faces and put things right.
"The belief is still there. We showed what a good side we can be early on at Coventry but we lost our shape as the first half went on and gave ourselves a mountain to climb for the second half.
"We have a big job on our hands but we are determined to get back on track and start climbing up the table.
"There are two big home games ahead of us now and a chance to start putting things right and getting some points on the board. We will be ready for these games and determined to turn things around as a team."