Less than two minutes had passed when Ebanks-Blake fired past the post.
The home side grabbed the lead on 18 minutes.
It was a goal any striker would have been proud of as Elliott Ward headed Michael Hughes’ cross into the bottom-left corner.
Matt Jarvis proved a constant menace for the Sky Blues defence down the flank but Andy Keogh failed to convert his pinpoint cross, the Irishman’s header bouncing down and over the crossbar.
However, Wolves levelled eight minutes after the break.
Scott Dann brought down Michael Kightly inside the area and Ebanks-Blake hit his penalty straight down the middle.
Kasper Schmeichel then parried brilliantly at the death to deny Ebanks-Blake a late winner.