Thereof, can Thanos reverse the snap?
The Avengers initially are on the brink of killing him but then Thanos reveals that he is the only one who can reverse the snap. The Avengers join forces with Thanos while still keeping a close eye. Thanos realizes that if he kills his former self, his life will no longer exist after Guardians 2.
One may also ask, what happened to Thanos after the snap? At the end of the film, Thanos is seen with a young Gamora in an orange dreamlike world after he snaps his fingers, “killing” half of the universe's living beings. “It is [in the soul stone], it's an orange world that they're in,” said Russo of the scene with Thanos and young Gamora.
Likewise, people ask, can the snap be reversed?
So it's not a matter of if they'll reverse the snap, it's how they'll do it. As with most things in comic books, all the ways in which the Avengers could return are needlessly convoluted—complete with Quantum Realms, time loops, etc.
Was Thanos exempt from the snap?
Thanos included half of all life (rather than half of each species), and apparently survived. Thanos exempted himself. Because he is the only one to have all six stones, the gauntlet and the will to act, in his mind he has to survive in case he needs to snap again--or to prevent someone greenstoning time back, etc.