It looks like your phalaenopsis has crown rot. You should pour hydrogen peroxide into the crown "Top" of your phal. This will often stop the rot from progressing any further, with that being said it is usually fatal to the plant. Crown rot in phals is often caused by water getting into the crown of the plant or between the leaves, if the water is left there and the temperature drops it leads to the development of this disease. I would let it dry out a bit as your medium looks wet, If that is sphag moss it should never be soaking wet as it will lead to root rot. You can wait this out and see what happens to your plant as I have heard of phals that have pulled through but in all honesty you should hope for the best and expect the worst. With that being said some of my fellow members may have some additional advice for you. If you haven't already I recommend reading
The Phal abuse ends here it's a little long but there is some great advice on this type of orchid there.