This season the competition is very tight and bookmakers give Liverpool as the favorite which is very reasonable because Liverpool performance is also very stable.
And if you ask whether Chelsea can catch up to the top of the standings, I will answer of course. The points difference is not too far and all the teams in the top flight can surprisingly lose their performance, except Liverpool.
Actually this is an opportunity for Arsenal to chase the title, but that's how Arsenal always looks strong at the beginning of the season but loses consistency in the middle of the season.
I assume and speculate that this season between Man City or Liverpool will hold the title.
If years ago Leicester City could win Premier League title with limited player resource, it's clearly that Chelsea with better player resource can compete for the title with Manchester City and Liverpool. It is possible and we can not exclude Chelsea from the race, now because the season is long enough for many changes, like Chelsea uprising and declines of Manchester City, Liverpool.
If they can fight, improve to player better and get more points, they will be able to become the league champion. Realistically thinking, Manchester City will continue to be a best candidate for the title, Liverpool is the next best candidate and Chelsea or other clubs are like underdogs in title race.