Is there a way to monitor the temperature of CPU using lm_sensors?

You can setup munin to monitor CPU temp (as well as many other things) and graph them, by default it does sampling at 5min intervals. It may be more than you want since it's really for monitoring a bunch of servers and such.

I also agree with @Keith, gkrellm is useful for desktop monitoring.

I have created a tool to enable graphical monitoring from the terminal.
This is a terminal UI tool, so it can run on your desktop or over ssh. You can check it out at https://amanusk.github.io/s-tui/.

Simplest installation with pip:

sudo pip install s-tui

or if you do not have root permissions:

pip install s-tui --user

Screen shot

Or download the executable from releases on GitHub.