No. The balance in the Touch ‘n Go card and the eWallet are separate and NOT interchangeable.
Below are the articles that may be useful for you :
Can I reload my Touch 'n Go card via the TNG eWallet?
Can I transfer my Touch ‘n Go card balance to another Touch ‘n Go card?
What happens if I do not have sufficient funds in both my Touch ‘n Go eWallet and Touch ‘n Go card?