Is there a pattern in which testicle hangs higher than the other and does abnormality in position indicate something wrong?

More or less equal. Both testes should lie at the base of the scrotum and should be equal in size. The right testicle is often slightly higher than the left, however the difference should be slight. One testis much higher than the other is ok provided the higher one is beyond the neck of scrotum. Any testis above the scrotum is in a wrong position and a urologists opinion should be obtained.