Arsenal are in a race alongside as many five other clubs for a place in the top four.
The top two – Chelsea and Manchester City – have all but nailed on those two positions leaving the following two Champions League spots open to realistically as many as six other clubs.
Ahead of the current campaign, Arsene Wenger’s men were tipped to challenge for the title but an inconsistent start to the season soon scuppered their hopes.
In spite of the optimism coming out of the Emirates, Carragher believes the title is out of the question but backs the Gunners to fend off the competition and secure a spot in the top four come next May.
“Wenger and his players have to be diplomatic but I think privately they'd know they're not really in the title race, they're in a race for the top four again,” he explained.
“I think they'll make it. You look at the attacking talent they've got, as well as the injured players coming back. I'm pretty confident Arsenal will get there.”
Of the teams at the top, one area where Wenger’s side appear to have an advantage is their excellent competition for places in the attacking ranks.
Alexis Sanchez has been a revelation this season, and with the likes of Olivier Giroud. Danny Welbeck, Theo Walcott and Mesut Ozil accompanying him the Gunners certainly have a front-line to be envied.