Yes it is possible. After 23 hours of doing the first water test, I re-tested it again about 5 minutes ago and I got the following readings
Amm - 0.02
NO2 - 0.05
NO3 - 20ppm
Ammonia readings are almost zero but not zero if the colors are compared. Previous readings last night were
0.25, 0.25, and 0. I guess I can say I am almost done cycling but due to my canister filter being 4 days old, the bacteria in it are "not living out its full potential" yet. From the readings though, it is almost there, almost done. My filters are keeping up with the current bio-load.