The Addicks took all three points with a last-gasp Jonathan Obika winner, but Powell said that rather than being harsh on Wolves, it would have been unfair had Charlton not claimed the win.
"On the balance of chances we deserved the win," Sky Sports News quotes Powell as saying. "They had two, the Karl Henry shot and the goal but apart from a few crosses our keeper has not and a lot to do.
"We had the better of the chances and these lads never give up and they dug in again. The playoffs are tantalisingly close but it is only a very slim chance. We will still go for it."
Charlton are five points behind sixth-placed Bolton Wanderers with just two games left to play.