
Manolo Gonzalez’s side have enjoyed a superb first half of the season and are fifth, four points behind Atletico Madrid in fourth.
Espanyol won five matches in a row before a derby defeat by leaders Barcelona last weekend, and then dropped two more points at Levante, 19th.
Carlos Romero smashed the visitors ahead in the 53rd minute but Iker Losada pulled Levante level two minutes later.
“I’d be lying if I said we’re happy with the draw, we’re upset,” Romero told DAZN.
The draw leaves Levante four points from safety, after 17th place Mallorca lost 2-1 at Rayo Vallecano.
Barcelona and second place Real Madrid face each other in the Spanish Super Cup final in Saudi Arabia later on Sunday.