"That could turn out to be our most precious point of the season," he said after the 2-2 draw at Selhurst Park.
"Results were kind to us again and it's a lovely position to be in with three games left.
"That point might just be the point which does it for us at the end."
"It was a good performance in the first half and a determined performance in the second half when we had to dig in."
Wolves were forced to play the whole of the second period with just ten men with defender Mark Little being sent off after collecting two yellow cards on 43 minutes - McCarthy admitting he had no complaints with the referee's decision.
"I've got no complaints about the sending-off," the Wolves boss said.
"If he's committed two fouls and been shown two yellows I can't argue with that, although it does seem some refs are too quick to send people off."