There is not enough resistance for progressive overload with bands, so 100% NO. Lift smart and supplement with 5 Ethitech Fish Oil per day and Machine Motion and you'll be better off.
Have you ever done resisted push ups with three 30-lb resistance bands? You can absolutely get enough resistance for progressive overload with resistance bands/elastic tubing. And with the variable linear resistance inherent with that modality, it's even better. I would recommend you check out the Chiseled workout show on liveexercise.com to see just how effective bands can be; as effective as weights/machines.
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