The purpose of the present study was to test the predictions of the multidimensional model of momentum (Taylor & Demick, 1994) regarding the elusive psychological momentum‐performance relationship. Team‐efficacy and affect were examined as mediators of perceived psychological momentum. Teams were assigned to either a repeated success or repeated failure condition in which success or failure was manipulated by having participants compete against a comparison score to either constantly win the competition or constantly lose the competition. Each team performed three, 30‐ball, competitive volleyball trials. Task specific team‐efficacy, affect, and perceived psychological momentum were assessed prior to each trial and responded to success and failure as expected by the model. The results demonstrated the initiation of the momentum chain but indicated that performance did not significantly increase in response to continued success. Further, experiencing negative psychological momentum led to an increase in performance in a manner similar to the construct of negative facilitation (Cornelius, Silva, Conroy, & Peterson, 1997).