Yes, it is perfectly possible, at least in the earlier levels.
I'm currently on level 5, i have 1 league title, and always finished top 3, most times fighting for the title until the last games. I've qualified to CL's Knockout stage several times, and went to the semi's once, battling way stronger teams. I won last season's Cup.
To the 35 Tokens a season, from media, i added about 20 Tokens from farming. Basically wasted on Youth players, which i can't keep at high level because i can't afford to Power train them. You do have to learn where to invest or not, when to invest, etc, depending on your time-zone, server and level...