This will be a difficult task for Liverpool to try and turn the season around and be title contenders, I'm not saying it is impossible but it wouldn't be an easy task for the team. There is a low possibility of making it happen especially with the level of form Arsenal and Manchester city are on this season. It gives a major doubt that they will be able to make it happen. The only possibility I see is making the top four at the end of the season.
After all, only 4 seats can qualify for the Champions League next season. When Liverpool lose their chance, it's a shame that a club that already has a big name has to give in to a team that is now moving faster. Liverpool's initial steps were less fortunate after signing Nunez, and their progress has been slow. It is true that there is little possibility for Liverpool, who are now outperforming teams such as Arsenal and Manchester City. Plus, if Liverpool don't have additional player options next season, it will make it even more difficult to be at the top of the standings.
Basically, the performance of Arsenal and Manchester City is also not as perfect as imagined, they are not easy to keep winning. It's just that, when the performance of Arsenal and Manchester City was not good, other competing teams also experienced very severe performance declines such as Liverpool and Chelsea.
But yes, we don't know what will happen next, but if I consider situations like this, then I think Liverpool still have a chance to finish in the top four.
Besides that, when I consider Arsenal and Manchester City's performance is not so perfect, then I doubt them to be able to win the title this season.
Even though so far Arsenal and Manchester City are still in first and second place in the Premiere League standings, it looks like their position will be taken over by a team that has just become the richest team and is experiencing a very rapid increase in performance.