Liverpool completed the season with only an FA Community Shield trophy which was played at the beginning of the season. Their performances in other tournaments weren't that impressive I'm afraid. This even caused them to be out of top 4 in the EPL. Now the expectation from Klopp will be really big in especially the most prestigious tournaments.
Liverpool will have 2 options to join back the Champions League:
- Finishing in top 4 in the EPL
- Winning the Europa League title
If they improve much more until next season starts then they would most probably finish in top 4 in their league. In that case I wonder how competitive they would be for the Europa League title. But a trophy is always a trophy.

Everything will depend on how Liverpool will look this season, because to be honest, last season was a failure for the club, although the finish line should inspire some optimism for the fans of the team. According to its potential, the club of course has to fight for victory in the Europa League, but still I would not dare to call the club one hundred percent favorite of the upcoming tournament because the cup system is ruthless and a great and strong team can be eliminated from the tournament just because of one unsuccessful match. A lot depends on which clubs will go down to the tournament from the Champions League.