Whiteboard: Warriors, Rockets, Lakers battle for position in latest NBA Power Rankings

The Celtics have continued to separate themselves from the field and are firmly entrenched in the top spot. They're 12 games ahead of the second-place Milwaukee Bucks and 6.5 games ahead of the Denver Nuggets, the top seed in the West. They have depth, star power and elite performance at both ends of the floor. The only challenge left is to sustain this dominance through the playoffs.

The Thunder are in a tight, three-way race for the top seed in the Western Conference but they've separated themselves in other ways. They may lack experience but they have arguably the most depth of any team in the West and SRS (strength-of-schedule-adjusted point differential) is ahead of the Timberwolves and Nuggets by a nose. They're also 6-3 to this point in head-to-head matchups with the Celtics, Nuggets and Timberwolves.

Statistically, not much is separating the Nuggets and Timberwolves. But in the Nuggets' favor, there is slightly more balance — they rank in the top 10 in both offensive and defensive efficiency. And of course, championship experience and the best player in the world.

The Timberwolves, to my mind, are last in this top tier of inner-circle contenders. They have star power and an elite defense but they lack experience, they have the question mark of Karl-Anthony Towns' status (although he's trending toward a regular-season return) and because their offense is merely average they appear slightly more vulnerable than the Thunder or Nuggets.

It feels a little weird to have the Knicks as the fifth-best team in the league and the second-best in the East, especially with Julius Randle and OG Anunonby as unresolved question marks. But their SRS is considerably ahead of the Bucks or Cavs and they have wins over the Cavs, Kings, 76ers, Magic and Warriors in the past month, in addition to absolutely walloping bottom-feeders like the Raptors and Pistons. I don't think they have enough to make the Eastern Conference Finals but they've earned this spot for the moment.

The Pelicans aren't getting as much attention as some of the other contenders in the West but they just keep grinding out wins. They're tied with the Mavericks in the standings but have been much better defensively over the course of the entire season. They have the fourth-best SRS in the West, almost identical to the Nuggets', and they've been significantly more consistent than the Clippers over the past few weeks. There is a gap between them and the best teams in the West but they have the best resume of the rest of the fringe contenders.

The Bucks have too much talent to drop much below this but it's becoming harder and harder to believe in them as a championship contender. The honeymoon period is over with Doc Rivers and they're still playing average basketball. The depth is almost nonexistent and Damian Lillard is having one of the worst shooting seasons of his career. They could still win it all but a lot needs to change, and in a hurry.

We've seen the Clippers at their unimpeachable best, we've seen the Clippers at their catastrophic worst. Lately we've seen the Clippers at their ... meh. They're 8-7 over their last 15 games with a negative point differential. Of those eight wins, two came against the Bulls, two came against the Blazers and one came against the Hornets. They can be a contender, but this ain't it.

The Mavericks have been hot. The defense is clicking, shots are falling and the Daniel Gafford addition couldn't have worked out any better. But I'm still skeptical about any team that's going to rely on Kyrie Irving to make meaningful plays all the way through a playoff run.

The Warriors just won't go away. They still need to hold off the Rockets in the race for the Play-In Tournament and then may need to win back-to-back games against the Lakers and either the Suns or Kings just to make the playoffs. But they continue to grind out wins and their point differential is growing. They are not the team we're used to seeing but they're also not nearly as bad as they've looked at their low points this year.

The Cavs will likely finish with the third-best record in the Eastern Conference but they're reeling right now — 6-9 in their last 15 games, outscored by an average of 4.3 points per 100 possessions. They have looked like a contender at times but I'm not sure any team has had peaks as high and valleys as low this season. That's a problem.

I'm not sure what else there is to say about the Suns. They have the talent to win it all but injuries and consistency have been constant challenges. They're just hoping they can catch enough lucky breaks for two months to make it through to the other side.

This is an entirely different team with Joel Embiid in the lineup. They were 29-17 before his knee injury with the third-best point differential in the entire league. He looked good in his return and if he can stay healthy and effective through the playoffs, they're absolutely a contender.

The Pacers have been playing better lately but they still need to hold off the Heat and 76ers and stay out of the Play-In Tournament. They proved in the In-Season Tournament that they can show up and pull out big wins in high-stakes situations but the Play-In Tournament is a different animal and the Cavs, Magic or Knicks are far better first-round matchups for them than the Celtics or Bucks.

The Kings have a decent chance of fighting their way into a top-six seed and avoiding the Play-In Tournament. That may have seemed like a bonus a few weeks ago but with Malik Monk out and the Warriors surging it might be imperative if they have any hope of winning a first-round series.

The Magic have a better record than several of the teams ranked above them but their offensive issues are a big deal. They are ranked second in defensive efficiency and 23rd in offensive efficiency. It's been a fantastic season and they've made huge growth. But until they can add more shooting and shot creation they seem far more vulnerable — to both a one-off upset and being overwhelmed in a series — than their record would suggest.

The Rockets have been incredibly hot lately — 8-2 in their last 10 and outscoring teams by an average of 8.3 points per 100 possessions. The problem is the Warriors have been hot as well and the Rockets still have a three-game gap to make up on them, just to make it into the Play-In Tournament. With just seven games left on the schedule, it might be too little, too late for Houston.

The Heat are making a big push for the No. 6 seed and to avoid the Play-In Tournament — 7-3 in their last 10, outscoring opponents by an average of 9.3 points per 100 possessions. They currently trail the Pacers by a half-game and the Knicks and Magic by two games for the No. 4 or No. 5 seed. They're peaking at the right time but the hole they dug themselves might be too big to sneak in.

The Lakers have a better record than the Rockets and Warriors, who are both ranked above them, and they're 7-3 in their last 10 games. But even over this stretch, their offensive and defensive efficiencies rank 10th and 11th in the league, respectively. They still have LeBron James and betting against them in the one-game format of the Play-In Tournament would be tough. But it's increasingly hard to imagine them surviving a first-round series against the Nuggets, Thunder or Timberwolves.

Freeing Dejounte Murray from Trae Young hasn't been as transformatic as some (me) might have hoped and injuries to Jalen Johnson and Saddiq Bey have sapped some momentum. They've had some bright spots but there is still a lot to figure out this offseason.

The Bulls will get a shot to determine their fate in the Play-In Tournament but they've tailed off a bit. They're 4-6 in their last 10 with a negative point differential. It's been a surprisingly positive season but the reality of their long-term future is coming up fast.

There's a good chance the Spurs still finish with the worst record in the Western Conference, especially with Devin Vassell and Jeremy Sochan done from the year. But they're clearly making progress — 4-6 in their last 10 with wins over the Knicks and Suns — and Wembanyama is increasingly transforming potential into impact.

The Nets are running out the clock on the season. Cam Thomas is putting up big point totals but it's still far from clear he's good enough to be the primary initiator and scorer on a good team. It's very clear that Mikal Bridges isn't qualified for that role either and this offseason is about finding a new star to organize their talented role players around.

For the Jazz, the rest of this season should be about giving Keyonte George, Brice Sensabaugh and Taylor Hendricks as much run as possible and then scouting some defensive upgrades they can target with the No. 8 and No. 27 pick.

Gradey Dick has been getting consistent minutes and his development has been a bright spot for the Raptors. Since Jan. 20, he's started 12 games and averaging 25.2 minutes per game across the 33 games he's played in. He's averaging 10.7 points, 2.6 rebounds and 1.4 assists, shooting 39.0 percent from beyond the arc and looking ready to take the leap next year.

The Grizzlies have to be thrilled with the development of GG Jackson, the youngest player in the NBA this season and someone who likely wouldn't have seen the court at all if it weren't for all their injuries. Since Jan. 13, he's played 27.5 minutes per game, averaging 15.2 points, 4.2 rebounds and 1.3 assists, shooting 36.6 percent from beyond the arc. Getting him big minutes is the one real silver lining in this lost season for the Grizzlies.

The Blazers knew they would be bad this year but they were probably looking for more positives than this. Deandre Ayton has put up some big numbers of late but appears to have completely given up on the defensive end of the floor. Prized rookie Scoot Henderson has been horrifically inefficient, both around the rim and with his jumper. At least they should have two new lottery picks to look forward to.

The Pistons had too much talent to finish with the worst record in the league and show such limited signs of growth as the season went along. Big changes will be coming this offseason.

By Basketball-Reference's VORP, Jordan Poole has singlehandedly been responsible for minus-3.51 wins this season — only Malaki Branham and Scoot Henderson have been bigger negatives. WOOF.

The Hornets will likely finish ahead of at least two teams in the standings. But they've been outscored by an average of 11.0 points per 100 possessions, a mark that no one else is going to surpass.

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