The lump you have is called pilonidal cyst, is common for young men your age (their usual position is slightly to the left side, as in your case, and the peak incidence of Pilonidal disease is between 16 and 26)
When the cyst becomes infected it is known as pilonidal abscess (swollen, red and filled with pus)
This lump can vary in size and hurts when you press on it - if it's infected it will hurt a lot (any movement seems to make the pain worse).
Since the size of the lump has decreased, the abscess has probably drained a little.
Have you noticed that the skin in that area has been itchy?
Are you prone to acne?
Try to sit in a warm tub to get the pain alleviated.
Best wishes!
Marija