Yes, with a but.

Truncate partition is a blocking DDL operation. This means that there can be no uncommitted transactions against the partition you're truncating.

I'm guessing you're only truncating old partitions subject to no data changes. I which case you can go ahead - you can continue to write changes to all the other partitions.

Just be aware that by default truncate partition leaves any global indexes in an unusable state:

create table t (
  c1 int, c2 int
) partition by range ( c1 ) 
  interval ( 10 ) (
    partition p0 values less than ( 11 ) 
  );
create index i on t ( c2 );
  
insert into t 
with rws as (
  select level x from dual
  connect by level <= 100
)
  select x, x from rws;
commit;

alter table t
  truncate partition p0;
  
select index_name, status 
from   user_indexes;

INDEX_NAME   STATUS     
I            UNUSABLE  

Which will probably also leave your application in an unusable state!

To avoid this, add the update global indexes clause:

alter index i rebuild;

alter table t
  truncate partition p0
  update global indexes;
  
select index_name, status 
from   user_indexes;

INDEX_NAME   STATUS   
I            VALID