I just see Arsenal repeating same thing they did in the premier league last season, just take a look at how Arsenal started very well this season just to reach this stage and starts losing points.
Arsenal were actually better last season than they are this season. They lost so much form this season and I believe it's due to fatigue. A top club needs squad depth to remain at the top and a very good rotation. Last season, Arsenal were still in form at this point of the season. They got bad after a couple of injuries and fatigue.
Fatigue is a very big problem that prevents high-flying teams. This usually affects teams that press very much in matches. It affected Liverpool too after they won the EPL.
Arsenal will make the top 4 but they won't be among title contenders.
If you look at the comparison of last season and this season honestly I think everything still looks the same even though in their consistency last season until half of the season they were very good but at the end of the season they still had problems and this time the consistency came faster because from half of the season they already felt it so there was nothing different from them.
Currently the situation is not very good for them especially when looking at the results of the matches that happened actually for the EPL they still have not moved from the downturn but hopefully this can be an encouragement for Arteta to be able to maximize the players more than before because if their target is the title competition then now it is not too late to change their performance for the better because the remaining time is still quite a lot now so that the current points gain can still be minimized and it requires a good performance if you really want to compete for the trophy again because currently other clubs like Liverpool and Manchester City who are strong candidates will also certainly continue to try to secure their position in the standings.