Corban E. answered 12/16/19
AP Chemistry Tutor and Former Teacher (Gen Chem, IB, O-Level, A-Level)
C(s)graphite ↔ C(s)diamond
Normally this rule applies to gases. When the pressure increases, the system will shift to favor the side that occupies a smaller volume.
Essentially, diamond is more compact than graphite since it has a higher density. 10.0 grams of graphite has a bigger volume than 10.0 grams of diamond. If the pressure is very high, the more dense form (diamond) will be favored.