The 38-year-old, who took over in 2023, and on Monday became the youngest coach in a World Cup knockout match in 40 years, saw his team crash out early for a third straight World Cup after group-stage exits in 2018 and 2022, putting his future in doubt.
He had repeatedly said prior to the tournament that Germany were aiming to restore their international reputation by winning a fifth World Cup, a statement seen by many back home as overly optimistic.
Instead he is now more likely to face an uphill battle to hold on to the job after a woeful maiden World Cup. Germany, under Nagelsmann, had reached the last eight at Euro 2024 on home soil.
"This is no longer in my hands but I am ready if they want," Nagelsmann said of his future. "If someone does not want this then they have to tell me. I want to continue."
"I’m not someone who runs away," he said. "I want to continue, but in football, you don't always have control over things. If the DFB (German FA) wants it, then I will prepare for the European Championship and the Nations League."
The Germans lost a World Cup shootout for the first time, having carved out a reputation as nearly flawless penalty-takers under pressure.
But on Monday three of their players - Kai Havertz, Nick Woltemade and Jonathan Tah - failed to score from the spot, leaving thousands of their fans in Boston, and millions at home, in shock.
The Germans have not made any impact on the international stage or reached any final of a major tournament since winning their fourth World Cup in 2014.
"There was more possible (in this tournament)," Nagelsmann said. "We would have liked to measure ourselves against France in the round of 16. But as it is it is just not good enough."
France face Sweden in the round of 32 on Tuesday.