Hmmm... Doesn't look good.
Is that just one bulb being affected? Overall, the plant and potting medium look good. There may even be the beginning of a bud on the base of the bulb in the upper right corner of the pot.
It looks like its in a ceramic pot - is there dranage? I hate potting orchids directly in ceramic.
There are 4 reasons to repot an orchid. One of them is when a plant isn't doing well. How brave are you? It could be time to dump it out of the pot and see what's going on.
It bothers me that you can't feel any moisture. I wonder if the bark has gotten too dry to absorb moisture.
Daisy
